Technical Analysis: Nasdaq Nears A Big Level

The Nasdaq (first chart below) is pushing very important resistance in the 2096-2100 range. Internals were stronger than the major indexes today, which suggests stealth buying and support for a Nasdaq assault on the 2100 level. Above that, the index has resistance up to 2118, and then it’s in the clear until 2150 and 2200. Support is 2074 and 2063. The Dow (second chart) has put together an amazing nine straight small-bodied days. The index could be due for a big move soon. The index continues to struggle at 10,600-10,620 resistance, with 10,660 the next level above that. Support is 10,540, 10,500 and 10,440. The S&P (third chart) is doing a nice job of pushing higher. Resistance is 1212 and 1218, and support is 1203-1204.

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