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Archive Archive

Technical Analysis: Techs On The Edge

Written By

Published: Jun 9, 2005

Updated: Jul 16, 2021

1 minute read

The market is acting like it expects hawkish testimony from Fed Chairman Alan Greenspan tomorrow, so any soothing words from the Fed chief would likely spark a good rally. The Nasdaq (first chart below) lost its second support level in as many days. 2040-2042 and 2030 are the next support levels, and resistance is 2068-2069, 2082 and 2097. The S&P (second chart) has support at 1190-1192, 1185 and 1180, and resistance is 1200, 1205 and 1210-1212. The Dow (third chart) has support at 10,465, 10,428-10,430 and 10,405, and 10,573-10,620 is resistance.

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 On The Edge

Paul Shread

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