Technical Analysis: Nasdaq Approaches Support
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A big test coming tomorrow for the Nasdaq (first chart below), which could hit the critical 2040-2050 support zone tomorrow. The index is very oversold and puts are piling up; can we finally get a turn around here? To the upside, key levels are 2075, 2080, 2093, 2100, 2106 and 2110-2112. The S&P (second chart) has support every five points down to 1165, and 1991 and 1200-1205 are resistance. The Dow (third chart) has support at 10,218, 10,200 and 10,175, and 10,300, 10,350 and 10,400 are key levels to the upside.