Technical Analysis: Breakdown

The Nasdaq (first chart below) closed below its lower trendline today, the first significant breakdown the techs have seen in some time. The index could try to reform its lower trendline at 1675. Below that, 1640-1650, 1625 and 1598 are support. 1700 is now significant resistance. The S&P (second chart below) held 975 support today. Below that level, 962 is critical. Resistance is 988-990, 993 and 1002. The Dow (third chart) is holding up better than the other indexes. The 8975-9030 support zone is critical for the market, and resistance is 9200.

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