Technical Analysis: Dow Stalls At Resistance

The Dow and S&P (first two charts below) remain in the narrow trading ranges they’ve been stuck in for the last two months, while the Nasdaq (third chart) continues in its month-old range. The Dow has perhaps the clearest boundaries: 9352 is major resistance, and the rising trendline at 9125 is critical support. The S&P is bounded by 1015 to the upside, and 981 below. First resistance levels are 1000 and 1010. The Nasdaq has resistance at 1740 and 1747 before it can retest its high at 1776. First support is 1726-1727, and 1715, 1700 and 1685 are important supports.

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