Technical Analysis: Not Quite Convincing

Written By
Paul Shread
Paul Shread
Published: Sep 30, 2004
Updated: Jul 16, 2021
1 minute read

The rally broadened a little today, saved by a late surge in blue chips, but the internals remained unimpressive. At least option traders showed some modest late-day caution. The Nasdaq (first chart below) ended the day just below 1895-1897 resistance; above 1900, 1910 looks like strong resistance. 1885, 1880 and 1870 are support. The S&P (second chart) faces tough resistance at 1118 and 1120, and support is 1110, 1106 and 1102. The Dow (third chart) has support at 10,100-10,108, 10,080 and 10,050, and resistance is 10,187-10,200 and 10,240.

Paul Shread

Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.

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