Technical Analysis: Bulls Try Again

The market tried to right itself today after Friday’s sell-off. So far, the internals are less than impressive, but since Thanksgiving week is historically up, we wouldn’t be surprised to see more upside over the next week or so. The Nasdaq (first chart below) has resistance at 2089-2093, 2100 and 2112, and support is 2066-2070 and 2050. The S&P 500 (second chart) has support at 1170 and 1162-1167, and resistance is 1180 and 1185-1200. The Dow (third chart) has support at 10,432 and 10,400, and resistance at 10,500-10,508, 10,540-10,560 and 10,602.

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