Technical Analysis: Nasdaq Holds Support Again

The Nasdaq (first chart below) had its third backtest of its old downtrend line in four days. So far that support is holding, but now the index needs to turn up. Support for tomorrow is 1967-1970, and resistance is 2000, 2010-2015 and 2032. The S&P (second chart) has support at 1115, 1110 and 1098-1102, and resistance is 1126, 1133-1140 and 1144. The Dow (third chart) has support at 10,226-10,250, 10,181 and 10,108, and resistance is 10,322-10,332, 10,380-10,400, 10,435 and 10,520. The PPI tomorrow morning will be an important report, and then Microsoft reports after the close.

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