Technical Analysis: Stocks Stabilize

The market stabilized today, but now buyers need to come in. The S&P (first chart below) recovered some support that was lost yesterday, but it needs to clear 1220-1222 for the bulls to get back in charge. Support levels are 1210, 1206 and 1195-1200. The Dow (second chart) needs to get back above 10,485, with 10,540 and 10,600 above that. Support is 10,405, with 10,290-10,300 below that. The Nasdaq (third chart) is the most stable of the major indexes, putting in yet another doji/inside day. Support is 2123, and resistance is 2136, 2150 and 2160.

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