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Technical Analysis: From Breakout To Breakdown

The Nasdaq (first chart below) broke out this morning on a gap above 2091 resistance - then sold off for the rest of the day to close below 2050 support. Quite a reversal, and on rising volume too. Short-term, the index is oversold, and 2040 looks like a good support zone. Below that, 2031, 2026, 2020 and 2012 are potential support levels. Resistance is 2050-2053, 2060-2063, 2068 and 2072. On the S&P (second chart), support is 1145, 1142, 1136-1138 and 1132, and 1150, 1155 and 1166 are resistance. The Dow (third chart) has support at 10,650, 10,600 and 10,569, and resistance is 10,750 and 10,800.