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 HOME   Technical Analysis: A Star Appears on the Nasdaq
Technical Analysis: A Star Appears on the Nasdaq
Published by: rose 2008-11-22

One heck of a nice breakout on the Nasdaq (first chart below) today — but the index looks a little wobbly ahead of tomorrow's big jobs report. The index barely closed higher than its open, forming a beauty of a "doji star" here, suggesting indecision, and internals on both exchanges deteriorated today. The index faces resistance at 2070 and 2087, and support is 2153, 2140-2142 and 2130. Again, stocks face significant headwinds without the support of the bond market (second chart), with yields still in a strong uptrend. The Dow (third chart) faces resistance at 10,561 and 10,600, and support is 10,500 and 10,460-10,470. The S&P (fourth chart) cleared a big hurdle. The next levels to the upside are 1226 and 1232, and support is 1215-1217 and 1210.

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Stocks & Commodities Volume 11 - 1993::
Barbara Star, Ph.D. Sidebar: Calculating the RSI 295 . Back Home Search VOLUME 11 S&C on CD Ch 10 Copyright (c) Technical Analysis Inc.
http://stockcharts.stores.yahoo.net/volume111993.html
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