Technical Analysis: Last Chance For Tech Stocks

The Nasdaq (first chart below) lost both its main August uptrend line and 50-day moving average today. The techs have one last chance to re-form that line, at about 2075 for tomorrow. Resistance is 2100-2110. The S&P 500 (second chart) is also slicing through support, with 1180 a critical level for tomorrow. Below that, 1172-1175 and 1160-1163 come into play, and resistance is 1193 and 1198-1200. The Dow (third chart) has support at 10,500-10,515 and 10,420, and resistance is 10,640-10,650 and 10,700-10,710.

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