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Technical Analysis: Market Finds Support

The market found support above important levels today and option traders showed a little more fear. Now the question is whether the market can sustain a bounce. The Nasdaq (first chart below) held above 1838 support today, a plus. First supports are 1849-1852 and 1842, and resistance is 1865, 1870-1874, 1878-1881 and 1894-1900. The S&P (second chart) struggled at 1102 resistance, and 1104 and 1106-1108.6 are above that. Support is 1097, 1095, 1092, 1089 and 1086. The Dow (third chart) has support at 10,100, 10,048-10,068 and 10,030-10,032, and resistance is 10,163, 10,200 and 10,235.



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