Technical Analysis: Stocks Turn Lower

Sellers continue to gain the upper hand, thwarting another rally here, as the indexes continue to look like another leg down lies ahead. The Nasdaq (first chart below) has important first support at 2050, and resistance is 2090-2100. The S&P (second chart) ran into a wall at 1284 again today. First resistance levels are 1267, 1270 and 1280, and support is 1262-1263 and 1259. The Dow (third chart) has major support at 11,000-11,040, and resistance is 11,190-11,220. Bond traders (fourth chart) are so far selling the news too.

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