Technical Analysis: Dow Leads to the Downside

The Dow (first chart below) led to the downside for a change. 11,040-11,066 is important support, and resistance is 11,131-11,150, 11,175 and 11,240. The Nasdaq (second chart) has important support at 2113, and 2150 is now resistance again. The S&P (third chart) held up relatively well due to its heavy financial weighting. The index has support at 1263, 1259 and 1253, and resistance is 1270, 1273 and 1281. At least bond traders had a good day today (fourth chart). Nice technical action there, breaking support, retesting it from below, and then continuing lower.

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