Technical Analysis: Stocks Try To Get Something Going

The indexes are trying to mount a rally here, but once again, the bounce is less forceful than we’d like to see. The Nasdaq (first chart below) faces resistance at 1940-1950 and 1968-1970, and support is 1915-1923 and 1900. The S&P and Dow (second and third charts) will need a strong day tomorrow just to clear Friday’s big down day. Resistance on the S&P is 1161-1164, and support (assuming the index gaps up in the morning) is 1154, 1147-1149 and 1140. The Dow (third chart) faces resistance at 10,250 and 10,350, and 10,100 and 10,000 are support.

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