Technical Analysis: Volatility Makes A Comeback
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A volatile couple of days in the stock market. With the market in the longest period since the 1930s without a 5% correction, it wouldn't surprise us to see a pullback soon. There was some bearishness among options traders today, but since it was options expiry, such high readings are less meaningful. On the Nasdaq (first chart below), resistance is 2040-2044, 2049-2052, 2060-2063, 2068 and 2072. 2031, 2020-2022 and 2012 are support. On the S&P (second chart), support is 1142, 1136-1138 and 1130-1132, and 1150, 1155 and 1160 are resistance. The Dow (third chart) has support at 10,580-10,590, 10,569 and 10,550, and resistance is 10,688-10,705, 10,750 and 10,800.