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Technical Analysis: What Happens Next?

Only one more day until expiry. The put-call ratio has had one of its most sustained high readings on record. That's bullish for the intermediate term, but as we've said, we continue to wait for evidence of a turn. And it should be interesting to see what happens Monday, when all the puts at QQQ 34 are no longer an immediate supportive factor. Maybe we'll finally get a washout to exhaust sellers, or maybe we'll finally get a rally, but whatever happens, we suspect it will be a lively day. The Nasdaq (first chart below) has resistance at 1910-1912, 1925, 1931-1936 and 1949, and support is 1878, 1865 and 1842. The S&P (second chart) has major support at 1082-1084 and 1075, and resistance at 1093, 1100 and 1103-1107. The Dow (third chart) has support at 9900, 9875, 9852 and 9822, and resistance at 9950, 10,000, and 10,040-10,048.