Technical Analysis: Nasdaq Turns Back Before Resistance

Looks like the negative internals the last two days caught up with the market today. The Nasdaq (first chart below) didn’t quite make it to the 2088-2095 resistance zone before turning back. 2050-2053, 2046 and 2037 are support, and below that is Friday’s big gap down at 2015-2020. First resistance levels are 2069 and 2079. The S&P (second chart) faces resistance at 1150, 1154, 1157, 1160-1163 and 1173-1177, and support is 1140-1143 and 1133-1136. The Dow (third chart) has resistance at 10,600, 10,650, 10,700 and 10,750, and support is 10,500-10,520, 10,450-10,460 and 10,420.

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