Technical Analysis: Dow, S&P Give Up Breakouts
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That didn't last long. Just days after breaking out to new highs, the Dow and S&P (first two charts below) gave up those breakouts today. 10,850-10,900 and 1215-1218 are resistance, and 10,700 and 1195-1200 are critical support levels. The Nasdaq (third chart) remains in the middle of its two-month trading range. Resistance is 2077 and 2100, and support is 2050 and 2040. On the plus side, options traders showed plenty of fear today.