Technical Analysis: Support Gives Way

The Dow and S&P (first two charts below) are threatening to go into free fall here. The next support levels on the S&P are 1206 and 1195-1200, and resistance is now 1212, 1214, 1220 and 1225. The Dow’s next support is 10,405, with 10,300 major support below that, and resistance is now 10,480-10,500 and 10,540. The Nasdaq (third chart) appears to be in a big broadening pattern between 2125 and 2160. First resistance levels are 2135 and 2150, and the next support levels below 2125 are 2114-2116 and 2106.

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