Markets at resistance

Posted by downtowntrader | 7/26/2006 09:44:00 PM | 0 comments »

The SP500 and Dow both stalled at the resistance I mentioned last night.

Here is a chart showing the SP500 at neckline resistance. I wouldn't be surprised to see the indices stall here.
Here is the Dow showing a similar situation.
Here is the Nasdaq which is struggling with resistance of it's own. Notice How the previous June support is now resistance.
Metals were up today as the dollar was stalling out. If the dollar falls here Gold and Silver could get a nice little bump.

No individual charts tonight. I would look to the consumer discretionary sector for possible shorts and healthcare / staples for longs.

Good night,