Technical Analysis: Indexes Push Higher

The Nasdaq (first chart below) continues to push toward the major resistance level of 2220-2230. 2183-2187 is first support, with 2163-2167 below that. Not much news in the bond market (second chart) today, which was closed because of Veterans Day. Still, evidence of foreign buying yesterday was a big boost for that market. 4.55 remains the big level here, and the 10-year yield remains on the wrong side of that number. The Dow (third chart) has put in a bullish “three white soldiers” pattern on the weekly chart — promising indeed for the bulls there. Resistance is 10,720, 10,753, 10,850 and 10,985, and support is 10,600 and 10,500-10,520. The S&P (fourth chart) faces resistance at 1238 and 1240-1246, and support is 1232, 1228-1229, 1225-1226, 1220 and 1215.

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