Technical Analysis: Sellers Remain In Control

The market has fallen and it can’t get up, as every bounce gets sold here. The one positive is that option traders seem to be buying plenty of puts here, but that hasn’t been much help so far. The Nasdaq (first chart below) finally edged above 1895 resistance, only to fail two points above that level. Support is 1876, 1870, 1860-1866 and 1855. The S&P (second chart) has resistance at 1114, 1117 and 1120, and support is 1106, 1100-1101 and 1093-1095. The Dow (third chart) has support at 10,023, 10,000-10,008 and 9954, and resistance is 10,074-10,083, 10,100-10,112 and 10,140.

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