Technical Analysis: No Break for Bulls

About the only positive we can find here is that the Nasdaq and S&P aren’t following the Dow to new lows, at least not yet. The Dow (first chart below) made a nice attempt to recover from yesterday’s breakdown before turning back down today. 11,030-11,040 and 11,077-11,100 are resistance, and support is 10,925 and 10,872. The Nasdaq (second chart) has support at 2144 and 2125-2135, and resistance is 2185 and 2200. The S&P (third chart) has support at 1254 and 1245-1250, and resistance is 1261, 1270, 1275 and 1281. No break from long bond yields (fourth chart) today, but they sure look set up to head lower in the near term.





News Around the Web