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New Dow Jones, NASDAQ and S&P 500 Technical Support Levels

With the broader market averages dropping further into bear market territory and for the most part below their 2008 lows, it’s time to highlight the new technical support levels;

DJIA – psychological support at 11,000 then it appears that on a breach of that level, the summer 2006 lows of approx. 10,700 come into play. At that point, the Dow would be down about 25% from its peak. Scary.

NASDAQ – March low of 2,155, then 2,100 and 2,000. From the perspective that tech has been relatively unscathed until the past week or two, this indice has the most to lose percentage wise.

S&P 500 – Just waved goodbye to its March low of 1,256 so support, just like the Dow, now looks to be at the summer 2006 lows of approx. 1,220 and beyond that, the 2005 October low of 1,175.

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