Technical Analysis: Nasdaq Hangs On

The Nasdaq (first chart below) didn’t do much damage to the downside today, barely even testing its steepest uptrend line. 2043 and 2025 are important support levels for Thursday, and a move above 2065 could lead to a challenge of the next major resistance level at 2090-2100. The S&P (second chart) has support at 1186, 1184 and 1180, and resistance is 1195 and 1200-1201. The Dow (third chart) has support at 10,425-10,430 and 10,400-10,405, and resistance is 10,500, 10,530, 10,570-10,620. Fear was quick to spike among options traders today, a positive for the bulls.

News Around the Web