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Archive Archive

Technical Analysis: Bulls Get Tested

Written By

Published: Mar 7, 2006

Updated: Jul 16, 2021

1 minute read

The Nasdaq (first chart below) broke its three-week uptrend today. 2276 is now important support, with 2250 the next big support level below that. 2300 is now resistance again. The S&P (second chart) is also facing a big test of support at 1273-1276. Resistance is 1282 and 1288. The Dow (third chart) has support at 10,912 and 10,850, and resistance is 11,000, 11,050 and 11,085. The reason for today’s sell-off? A 20-month high in long bond yields (fourth chart). Based on that breakout, long rates could see 5.5%.

Paul Shread

Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.

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IT Management

Technical Analysis: Nasdaq Tests Downtrend

The bulls continue to push some big resistance levels here. The Nasdaq (first chart below) is challenging its main downtrend line. 2150 is the next resistance level, and support is 2125 and 2120. The S&P (second chart) faces important resistance at 1255 and 1262, and 1244 is an important first support level. The Dow (third […]

Paul Shread

Jun 27, 2006

IT Management

Technical Analysis: Nasdaq Hits Major Support

The Nasdaq (first chart below) is sitting back on critical support in the 2240-2245 zone; a critical level for the bulls here. To the upside, 2264, 2278 and 2290 are resistance. The S&P (second chart) has major support at 1246-1250, and resistance is 1270-1275 and 1290-1295. The Dow (third chart) has support at 10,640, 10,600 […]

Paul Shread

Jan 21, 2006

IT Management

Technical Analysis: Stocks Push Higher

The impressive strength continues. The Nasdaq (first chart below) faces resistance at 2370, and critical support is 2328-2333. The Nasdaq 100 (second chart) broke out today, so we’ll take that one out of the bearish column. The Dow (third chart) is back at 11,230-11,250 resistance; if that goes, 11,350-11,426 is next. Support is 11,200, 11,150, […]

Paul Shread

Apr 6, 2006

IT Management

Technical Analysis: Techs Break Out

A solid breakout for the Nasdaq (first chart below), which broke its six-week downtrend without looking back. The next resistance levels are 2314 and 2328-2333, and support is 2300, 2291 and 2286. The S&P (second chart) ran into its long-running resistance line at today’s high of 1297.57. Support is 1285-1288, 1282 and 1274-1275. The Dow […]

Paul Shread

Feb 28, 2006

InternetNews is a source of industry news and intelligence for IT professionals from all branches of the technology world. InternetNews focuses on helping professionals grow their knowledge base and authority in their field with the top news and trends in Software, IT Management, Networking & Communications, and Small Business.

Technical Analysis: Bulls Get Tested

Paul Shread

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