Technical Analysis: Rally Gets Tested

Didn’t take long for sellers to show up, but at least the bulls had some fight in them today. The Nasdaq (first chart below) remains stuck in a steep downtrend here. Resistance is 1950, and support is 1923-1924, a short-term uptrend line. The S&P (second chart) also has a short-term uptrend going. Support is 1146 and resistance is 1154 and 1164. The Dow (third chart) has support at 10,140, 10,050 and 10,000, and resistance is 10,225 and 10,275.

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