A Complete Guide to Technical Trading Tactics: How to Profit Using - Google Books Result::
href=http://books.google.com/books?id=dYOSkaSVbAgC&pg=PA71&lpg=PA71&dq=Technical+Analysis:+Rally+Hits+Resistance&source=web&ots=IbW-urxXnd&sig=2dRibI7gcLLyqKaCtJ9Dll_wzOU&hl=en&sa=X&oi=book_result&resnum=77&ct=result class=l onmousedown=return clk(this.href,,,res,80,)>A Complete Guide to Technical Trading Tactics: How to Profit Using - Google Books Resultby John L. Person - 2004 - Business & Economics - 288 pagesRemembering that nothing is 100 percent reliable in technical analysis or in The market hits a high, sets back to an interim low, rallies but does not
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The rally once again turned selective today, as neither exchange could muster 70% upside volume. That's pretty weak internal support, but perhaps Friday's jobs report can change that. The Nasdaq (first chart below) faces resistance at 2085-2090, 2100, 2110 and 2119, and support is 2065 and 2050. The S&P (second chart) neared our 1287 target today; 1291 is the next big level if the index can clear that. Support is 1275 and 1268-1270. The Dow (third chart) faces tough resistance between here and 11,330, and support is 11,100 and 11,040. Long bond yields (fourth chart) are threatening a downside breakout here.
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Technical Analysis: Rally Hits Resistance