Technical Analysis: Techs Battle Back

The Nasdaq (first chart below) battled back above the important 2040 level today, which should now be support. If the techs can’t hold there, 2023 and 2008.7 come back into play. To the upside, 2060 and 2080 are the next resistance levels. The S&P (second chart) has support at 1190-1194, and resistance is 1205 and 1212. The Dow (third chart) has resistance at 10,800 and 10,868, and support is 10,700-10,725 and 10,650. The financials (fourth chart) are looking a little better today. Also helping out today was a big jump in fear among options traders.

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