Home > Investing > Stock Market Technical Analysis for 10/25/2010

Stock Market Technical Analysis for 10/25/2010

October 25, 2010

The Nasdaq 100 on Friday was again the upside leader as it has been now for several weeks. However, it did not manage to close above last week’s high at 2105.7. A breakout above that level would trigger a small bullish “triangle” pattern that would have a potential upside to about the 2160 area.

For the S&P 500 and the Russell 2000, it was another day of churn at higher levels. Since each index has a much broader representation of company types, both indexes can flatten out if not all sectors are firing on all cylinders.

On Friday the materials and financials underperformed. As a result, other than an update to the 10-day moving average for the S&P 500, there are no major changes in levels.

Nasdaq 100 (NDX)

First support is at 2097.73. First resistance is at 2105.7.

For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $51.50. First resistance is at $51.72.

S&P 500 (SPX)

First support is at 1175.53, the 10-day moving average. First resistance is at 1185.53.

For the Standard & Poor’s Depository Receipts (SPY) first support is at $117.61, the 10-day moving average. First resistance is at $118.67.

Russell 2000 (RUT)

First support is at 690.11. First resistance is at 710.64.

For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $68.95. First resistance is at $71.14.

Advertisements
%d bloggers like this: