Technical Analysis: Choppy Trade

A rocky couple of days for stocks, with a complete round trip back to Friday’s levels and then some. The Nasdaq (first chart below) faces resistance at 2165, 2175 and 2190-2200, and support is 2150 and 2130-2137. We should note that the Nasdaq continues to lag the NYSE (second chart), a general market concern here. The Dow (third chart) faces resistance at 11,180, 11,220-11,240, 11,280-11,290 and 11,330, and support is 11,123-11,131, 11,100 and 11,040. The S&P (fourth chart) has support at 1263, 1258 and 1250, and resistance is 1275, 1281, 1285 and 1291. Even long bond yields (fifth chart) have made a round trip in recent days.

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