Technical Analysis: Techs Hang On

Written By
Paul Shread
Paul Shread
Published: Jan 7, 2005
Updated: Jul 16, 2021
1 minute read

The Nasdaq (first chart below) is so far hanging on between two uptrend lines from August; whichever line the index breaks through could be the key. 2080 is critical support, and 2115 is critical resistance. The index is deeply oversold; can the big jobs report tomorrow provide a bounce? The S&P 500 (second chart) has important support at 1183, with 1172-1175 and 1160-1163 below that, and resistance is 1193 and 1198-1200. The Dow (third chart) has support at 10,575-10,583 and 10,530-10,540, and resistance is 10,640-10,650 and 10,700-10,710.

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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