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Archive Archive

Technical Analysis: Techs Break Out

Written By

Published: Feb 28, 2006

Updated: Jul 16, 2021

1 minute read

A solid breakout for the Nasdaq (first chart below), which broke its six-week downtrend without looking back. The next resistance levels are 2314 and 2328-2333, and support is 2300, 2291 and 2286. The S&P (second chart) ran into its long-running resistance line at today’s high of 1297.57. Support is 1285-1288, 1282 and 1274-1275. The Dow (third chart) failed at its upper trendline today. Resistance is 11,165 and 11,200, and support is 11,050, 11,000 and 10,960. Long bond yields (fourth chart) are trying to move higher out of their narrow range.

Paul Shread

Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.

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InternetNews is a source of industry news and intelligence for IT professionals from all branches of the technology world. InternetNews focuses on helping professionals grow their knowledge base and authority in their field with the top news and trends in Software, IT Management, Networking & Communications, and Small Business.

Technical Analysis: Techs Break Out

Paul Shread

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