Dow Jones, S&P and NASDAQ
Last week Dow Jones found heavy resistance near 12,815 level and on fourth attempt it came down and closed at 12,640. 12,500-12535 is the support range. Once this support is broken then break of 12,415 could bring it to test the 200-day moving which is currently at 12,350.
S&P facing heavy resistance at 1343-1345. Now not only it should conquer 1345 but must go above 1368 to make a case for bulls. 1312-1315 is the support range. Once broken it could come down to 1297 which is 200-day moving.
NASDAQ Composite is facing resistance right at where it closed on Friday which is 2892. It has support of 2850 and it could easily come down in next few days. In order for it to be bullish it must maintain 2892 and must cross 2959.
NASDAQ 100 support is at 2550.
In summary, unless the markets take out the above mentioned levels it is in bearish mode.
