Technical Analysis: More Breakdowns
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Another rough day for stocks. The Nasdaq (first chart below) broke its 200-day moving average today. The next major support levels are at 1970 and 1940-1950, and resistance is 1993, 2000, 2008, 2023 and 2038. On the plus side, in that chart, 14-day RSI is at its most oversold level since the January low. The S&P (second chart) broke 1175-1178 support today, which is now first resistance, with 1184, 1190 and 1194 above that. 1164 is the next support level. The Dow (third chart) has major support at 10,368-10,376, and resistance is 10,500-10,534, 10,600 and 10,670.