Technical Analysis: Nasdaq Tries To Right Itself

The Nasdaq (first chart below) broke down again today — and managed to recover again today too, with a nice-looking bullish hammer candlestick and an “outside day” eclipsing yesterday’s trading range. Once again, however, we need to see follow-through. Resistance is 2100, 2109 and 2125, and support 2087-2088 and 2066-2070. The S&P 500 (second chart) has support at 1175-1180, and resistance is 1195-1200. The Dow (third chart) has support at 10,550-10,570 and 10,490-10,500, and resistance is 10,684-10,710.

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