No Clear Signals
By Paul Cherney
I have nothing offering me anything definitive about the makets. (Translation: I really have absolutely no idea what is going to happen.)
The Nasdaq is testing a focus of support in the 1654-1570 area. Technical suppport runs all the way down to 1461. Immediate Nasdaq resistance is 1696-1734 with a focus 1717-1729. Major resistance is 1770-1930.
Immediate S&P 500 resistance is 1120.98-1131.55 with a focus 1123-1127. Major S&P 500 resistance is 1136-1190.
Immediate support for the S&P 500 is 1100-1081.19 (the low print from 3/22/01). The next layer of substantial support below 1081 is 1066-960.
Cherney is Market Analyst for Standard & Poor's