Technical Analysis: Techs Hang On

The Nasdaq and Nasdaq 100 (first two charts below) held critical support levels today. The Nasdaq held support at today’s low of 2248.65, while the Nasdaq 100 made it with a few points to spare. Resistance on the Nasdaq is 2278 and 2300. The S&P (third chart) faces resistance at 1281-1283, and support is 1273-1276, 1267-1268 and 1261. The Dow (fourth chart) has resistance at 11,050 and 11,075, and support is 10,950-10,980 and 10,920. Long bond yields (fifth chart) are taking a breather here, but they remain solidly in breakout mode.

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