The Dow (first chart below) became the latest index to lose a major support level today, closing below the neckline of a potential head and shoulders top at 11,030-11,040. The blue chips now need to reclaim that level; the size of that pattern suggests a minimum downside target of 10,400-10,700, and the breakdown occurs with the weakest months of the four-year market cycle ahead of us. The next support levels are 10,925 and 10,870. The Nasdaq (second chart) continues to fare better than the Dow as of late, putting in a higher low today. Support is 2144 and 2125-2135, and resistance is 2176, 2185 and 2200. The S&P (third chart) is doing even better. Support is 1260, 1254 and 1245-1250, and resistance is 1270, 1275 and 1281. Can long bond yields (fourth chart) make a definitive break below 5%?