Technical Analysis: Puts Pile Up

Heavy volume in puts today. If stock market bulls see any bright spots in tomorrow’s CPI report, they have all the fuel they need for a rally right there. The one persistent negative here is rising bond yields (first chart below); let’s hope that downtrend line on the 10-year yield holds. The Nasdaq (second chart) tried to turn up to day. Resistance is 2050 and 2069-2074, and support is 2040, 2030, 2025 and 2004-2008. The S&P (third chart) is also trying to turn up from deeply oversold levels. Support is 1173, 1170, 1167 and 1163-1165, and resistance is 1182 and 1188. The Dow (fourth chart) has support at 10,200, 10,175, 10,156 and 10,140, and resistance is 10,290-10,310, 10,350 and 10,400.