The Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite indices were up over a per cent each last week. All the three indices made a new high on Friday and had come off giving back some of the gains.

Dow Jones (46,758.29)

Intraday resistance is around 46,820. While that holds, the Dow Jones can dip to 46,720-46,700 during the day. Failure to rise back from around 46,700 can drag it further down to 46,600-46,570.

On the other hand, if the index manages to bounce back from around 46,700, it can rise to test the resistance at 46,820. A decisive break above 46,820 is needed to ease the downside pressure and strengthen the momentum to see 46,950 on the upside.

Supports: 46,700, 46,600

Resistances: 46,820, 46,980

S&P 500 (6,715.78)

S&P 500 can fall to 6,700-6,680 during the day

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