Technical Analysis: Techs Show Strength

The Nasdaq (first chart below) continues to show strength here, defying a couple of blue chip downdrafts this week. 2269, 2264, 2260 and 2252 are support levels, and resistance is 2288, 2300 and 2328, levels not seen in nearly five years. The S&P (second chart) continues to push some very big resistance at 1270-1280, and support is 1260, 1255 and 1250. The Dow (third chart) still can’t get past 10,950-11,000. 10,880-10,900, 10,860 and 10,800 are supports. Bond yields (fourth chart) continue to be the one worrisome thing for stocks here; no support for equities there.

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