Technical Analysis: Dow Runs Into Resistance

The Dow (first chart below) continues to stall at the 10,573-10,620 resistance zone. A funny pattern the last few weeks; because it’s occurring after a rise in the index, odds may favor a break up, but watch the boundaries to be sure. Support is 10,430-10,433 and 10,405. The S&P (second chart) is another index with a strange-looking trading range going on the last few weeks. Resistance is 1207-1210 and 1212, and support is 1192, 1185 and 1180. The Nasdaq (third chart) has one important level that’s clear: 2097-2100 resistance. 2070 is the first resistance level, and to the downside, support is 2060, 2050-2055 and 2040-2042.