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Technical Analysis: Dow, S&P Hold Up
Published by: smith 2008-11-22
The Dow and S&P are holding up relatively well, but the Nasdaq (first chart below) has fallen and it can't get up. Can the index do better at the important 2000 support level? The index is certainly oversold enough for a bounce. Support is 2000, 1990 and 1978-1980, and resistance is 2020-2022, 2030 and 2040-2044. The S&P (second chart) has support at 1136 and 1130-1132, and resistance is 1147, 1150, 1155 and 1160. The Dow (third chart) has support at 10,580-10,595, 10,569 and 10,550, and 10,645-10,650, 10,673-10,705, 10,750 and 10,800 are resistance. The equity put-call ratio, meanwhile, was a little complacent today. All in all, a market that could bounce at any time, but techs remain mired in a downtrend.

Technical analysis - Wikipedia, the free encyclopedia::
Technical analysis is a financial markets technique that claims the ability to Modern technical analysis considers Dow Theory its cornerstone.
http://en.wikipedia.org/wiki/Technical_analysis
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Incredible Charts: Dow Theory - Confirmation::
Bull and Bear markets are confirmed by both the Industrial and Technical Analysis > Dow Theory > Dow Theory - Confirmation. Dow Theory - Confirmation
http://www.incrediblecharts.com/technical/dow_theory_confirmation.php
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Technical Analysis at Trade10.com- The science of trading market ::
Technical analysis is valuable in allowing us to perceive Dow Jones Industrials. Nasdaq. Philadelphia Semiconductor Index. Russell 2000. S&P500 Index
http://www.trade10.com/technical.htm
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