Technical Analysis: Stocks Slip On Oil Patch

After struggling for weeks to go higher, the indexes turned down today. Not surprising, given all the effort and supply that was being exhausted. The Nasdaq (first chart below) failed at 2100 resistance once again today, getting as high as 2106 before following the Dow lower. At this point, the next strong support for the Nasdaq is 2053, and 2075 is first resistance. The Dow (second chart) gave up a lot of support in one day; 10,405 is very important at this point, and 10,375 and 10,263 are below that. Resistance is 10,445, 10,500, 10,560 and 10,640. The S&P (third chart) has support at 1200 and 1195, and resistance at 1210, 1215 and 1219-1220.

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