Technical Analysis: Stocks Under Pressure

Stocks remain stuck in a three-week downtrend, and if commercial futures traders are to be believed, stocks haven’t reached attractive levels yet. The Nasdaq (first chart below) gapped down out of a symmetrical triangle today. 2250 and 2240 are the next support levels, and resistance is 2280-2282. The S&P (second chart) has support at 1260 and 1246-1250, and resistance is 1270, 1275-1277 and 1285-1290. The Dow (third chart) faces resistance at 10,855 and 10,950-10,960, and support is 10,760, 10,700 and 10,640. At least long bond yields (fourth chart) recovered from an initial spike today.





Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web