Technical Analysis: S&P Nears Highs

The S&P (first chart below) is less than 1% from its four-year high of 1245.86 set last month. That’s also the bottom of a major resistance zone between 1244 and 1265. 1229-1230 should be solid support at this point, with 1223 below that. The Nasdaq (second chart) has important short-term support at 2158, and resistance is 2174-2176 and 2185-2190. The Dow (third chart) has first support at 10,600, and a whole cluster of support below that between 10,500 and 10,540. Resistance is 10,640-10,660 and 10,700-10,720.

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