Technical Analysis: The Dow Hesitates

Written By
Paul Shread
Paul Shread
Published: Aug 14, 2003
Updated: Jul 16, 2021
1 minute read

The Dow (first chart below) stalled at the major 9352-9361 resistance level. A break above that would be bullish, and the resilience in the face of profit-taking today was a positive. However, if the index goes down much at all tomorrow, it will fall back out of its March trendline. Next support down is 9150-9180. The Nasdaq (second chart) stalled short of 1700 resistance, but held 1685 support. Next support is 1679, and 1715-1725 and 1727-1747 are resistance. The S&P (third chart) faces resistance at 989 and 997, and the index needs to hold here to avoid a minor breakdown. 980 is next support.

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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