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Technical Analysis: Nasdaq Headed For Support Break

The Nasdaq (first chart below) is likely to break significant support tomorrow morning, a shelf at 1960 that has held for a month. Below that, 1936-1940 is major support, and 1930, 1922 and 1913 are also support levels. Resistance will likely be 1960, 1966-1970 and 1980. The S&P (second chart) has support at 1110-1112, 1106-1107 and 1101, and resistance is 1118.5 and 1123. The Dow (third chart) has support at 10,200 and 10,176, and resistance at 10,240, 10,267 and 10,307. Put buying remains vigorous, but that hasn't been much help lately. At some point, however, it will provide fuel for a bounce.