Technical Analysis: Breakouts Get Tested

It was a little wobbly, but the indexes were able to recover — for the most part — from today’s sell-off. The Dow (first chart below) pierced the downtrend line that it broke out of yesterday and closed slightly below it. Support is 9990-10,000 and 9954, and resistance is 10,100, 10,170, 10,200 and 10,250. The S&P (second chart) did a much better job, piercing the line but recovering to close back above it. Support is 1085-1087 and 1079, and resistance is 1095, 1097-1100 and 1106-1110. The Nasdaq (third chart) did the best job of all — it didn’t even come close to that line, which will be at about 1800 tomorrow. First support is 1808-1811, and resistance is 1831 and 1842.

News Around the Web