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Archive Archive

Technical Analysis: Techs Power Higher

Written By

Published: Feb 12, 2005

Updated: Jul 16, 2021

1 minute read

An impressive turnaround today, especially so given Dell’s revenue warning. The Nasdaq (first chart below) regained broken support and then some, and could be poised for another run at 2100-2106 resistance if it can take out its downtrend line at 2080. Support is 2060-2065, and 2040 is now critical support. The S&P (second chart) had a nice little breakout today. The next resistance levels are 1210 and 1218, and support is 1200 and 1192-1196. The Dow (third chart) has a nice uptrend going. Support is 10,750 and 10,720, and resistance is 10,868.

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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The one positive for the market to build on here is that the Dow and S&P (first two charts below) didn’t follow the Nasdaq (third chart) to new lows today. That said, the market won’t go far without tech stocks; maybe Dell’s earnings tomorrow night can do something about that. Also, retail sales will be […]

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While it’s nice that the Nasdaq (first chart below) finally bounced, the index will need a stronger upside move to negate what could be a bear flag forming the last few days. Support is 1650 and 1640, and resistance is 1675-1685. Earnings from Applied Materials tomorrow and Dell on Thursday may have much to do […]

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Technical Analysis: Techs Battle Back

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IT Management

Technical Analysis: Techs Break Out

A strong trend; the market has been overbought for some time, yet it keeps pushing higher. The Nasdaq (first chart below) took out 2055 resistance today. 2079 and 2100 are the next resistance levels, and support is 2050-2055, 2040-2041 and 2032-2034. The S&P 500 (second chart) is pushing the major resistance level of 1173-1177, with […]

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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 Power Higher

Paul Shread

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