Technical Analysis: Nasdaq At Important Support

The Nasdaq (first chart below) ended the day just above its uptrend line off the October 2002 lows – more than a few points down next week, and the index will break that uptrend. An important support that could finally give stocks a bounce. Below 1880, 1865 is important support, and 1897-1900 is now first resistance. The S&P (second chart) broke its 200-day moving average today. Below 1100, 1095 and 1088-1091 are support levels, and 1106-1107, 1113 and 1117 are resistance. The Dow (third chart) has support at 10,121-10,134, 10,093 and 10,074, and resistance is 10,162-10,175 and 10,205-10,220.

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