Technical Analysis: Nasdaq Tests Downtrend

The bulls continue to push some big resistance levels here. The Nasdaq (first chart below) is challenging its main downtrend line. 2150 is the next resistance level, and support is 2125 and 2120. The S&P (second chart) faces important resistance at 1255 and 1262, and 1244 is an important first support level. The Dow (third chart) faces resistance at 11,055, 11,080 and 11,132, and support is 11,000, 10,975 and 10,900. Long bond yields (fourth chart) continue higher.

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