Markets & Finance

More Gains Are Likely

By Paul Cherney Odds (based on momentum indicators which combine price and volume) still favor (slighlty) another day of gains for both the NASDAQ and the S&P 500.

A likely spot for NASDAQ profit-taking is 2100-2187 area. For the S&P 500, it would be prints in the 1241-1277 area.

The NASDAQ is testing a layer of resistance which is 2038-2084. Inside this band is a focus of resistance 2063-2084

The S&P 500 has support 1228-1219, the next resistance is 1241-1277 with a focus 1241-1263. The S&P 500 has well-established support in the 1212-1184 area. Cherney is Market Analyst for Standard & Poor's

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