Technical Analysis: Market Wobbles

While the VIX (first chart below, the options volatility index) had a nice spike up today, the equity put-call ratio showed no fear, clocking in at a very complacent .54. That alone suggests more downside for the market. The Nasdaq (second chart) has support at 1923, 1915-1920 and 1900, and 1940, 1950, 1967-1971 and 1992-2000 are resistance. The S&P (second chart) has major support at 1040-1043, and resistance at 1064 and 1068-1070. The Dow (third chart) has major support at 9700-9750, and resistance is 9892-9900 and 10,008.

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