Technical Analysis: Stocks Dodge September Slump

It was tough going at times, but stocks had their best September — historically the worst month for stocks — since 1998. The Dow had only its ninth positive September in the last 35 years. Here’s hoping that’s a good omen for the rest of the year.

The indexes continued to build on their gains today, but the toughest levels still lie ahead. The Nasdaq (first chart below) faces tough resistance at 2155, 2160 and 2170, and support is 2138-2142, 2133, 2125 and 2110. The Dow (second chart) has support at 10,555, 10,537 and 10,515-10,520, and resistance is 10,580-10,600, 10,640 and 10,685-10,720. The S&P (third chart) faces resistance at 1238-1239 and 1242-1246, and support is 1223-1226, 1220, 1215 and 1210.

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