Technical Analysis: Dow Finally Breaks Through

The Dow (first chart below) finally cleared its downtrend line today. That said, the rally is four days old and the index has yet to put in an impressive up day; it could use a little more buying pressure to sustain the rally. 10,575-10,660 is one big resistance zone, and support is 10,475-10,520. The Nasdaq (second chart) faces a lot of resistance at 2023, with 2040-2045 above that, and support is 2005, 2000 and 1993. The S&P (third chart) faces resistance at 1194 and 1198-1201, and support is 1185, 1182 and 1173-1175.

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