Come Into My Trading Room: A Complete Guide to Trading - Google Books Result::
href=http://books.google.com/books?id=gSp_vFURzl8C&pg=PA42&lpg=PA42&dq=Technical+Analysis:+Dow+Runs+Into+Resistance&source=web&ots=0mu1_S-YFs&sig=v5Lh0kiseKMVrsxE5AYOci9RJTM&hl=en&sa=X&oi=book_result&resnum=60&ct=result class=l onmousedown=return clk(this.href,,,res,81,)>Come Into My Trading Room: A Complete Guide to Trading - Google Books Resultby Alexander Elder - 2002 - Business & Economics - 208 pagesTechnical analysis has become hugely popular since the 1980s. for uptrends and downtrends, support and resistance zones, as well as repetitive patterns,
http://books.google.com/books?id=gSp_vFURzl8C&pg=PA42&lpg=PA42&dq=Technical+Analysis:+Dow+Runs+Into+Resistance&source=web&ots=0mu1_S-YFs&sig=v5Lh0kiseKMVrsxE5AYOci9RJTM&hl=en&sa=X&oi=book_result&resnum=60&ct=resultHOME |
The Dow (first chart below) continues to stall at the 10,573-10,620 resistance zone. A funny pattern the last few weeks; because it's occurring after a rise in the index, odds may favor a break up, but watch the boundaries to be sure. Support is 10,430-10,433 and 10,405. The S&P (second chart) is another index with a strange-looking trading range going on the last few weeks. Resistance is 1207-1210 and 1212, and support is 1192, 1185 and 1180. The Nasdaq (third chart) has one important level that's clear: 2097-2100 resistance. 2070 is the first resistance level, and to the downside, support is 2060, 2050-2055 and 2040-2042.
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