Not the best of days for the Nasdaq (first chart below), which once again failed at 2100 resistance and then closed below its uptrend line from late April. More than a point or two of downside tomorrow and a deeper correction may be under way. The S&P (second chart) turned back just below 1210-1212 resistance today, with 1218 above that. Support is 1190-1192 and 1185. The Dow (third chart) once again struggled at 10,573-10,620 resistance. 10,424-10,430 and 10,405 are major support.
Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.
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