The Nasdaq (first chart below) has yet to make a convincing move back above its old 2002 uptrend line that was broken last week. That line will be quite a bit higher next week - call it 1910 for now - so the index will start next week below that line. It will take a powerful move up to regain that trendline and begin a new move up. Support is 1876, 1860, 1856, 1853, 1846 and 1838. The S&P (second chart) faces major resistance at 1107, with 1117 above that, and support is 1094, 1089 and 1086. The Dow (third chart) continues to struggle at 10,163 resistance; if it can break above that, 10,225 is next. Support is 10,085, 10,048-10,068 and 10,030-10,032. Technical Analysis Morning Trader: stock picks, scans and ideas for day ::
As this test evolves toward its final outcome, a stock may exhibit key are the narrowest of the last 7, a dynamic breakout (or breakdown) is imminent.
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U.S. benchmarks rise to challenge the 50-day::
Technical Analysis. Mark Hulbert. Peter Brimelow. The Gurus Corner. Directory (Newsletters) Its recent spike marks the Nasdaqs best four-session advance
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Swing Trading, Technical Analysis, Daily Stock Market Commentary. Sat, Aug 09, 2008 Nasdaq +4,5% Dow Jones+3,6% S&P 500+2,9
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