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Technical Analysis: A Chance To Regroup
By Paul Shread

http://stocks.internetnews.com/article.php/3366251

Yesterday's negative internals were a sign that the rally might be getting tired, and sure enough, stocks started down this morning and headed lower from there. Today's pullback gives the market a chance to recoup with better internals, but given the market's terrorism jitters ahead of holidays lately, tomorrow could be a sloppy day. Options players were just a little slow to turn bearish today, but there are still plenty of puts below the market for support, particularly at 36 QQQ and below. The Nasdaq (first chart below) has support at 1980-1985, 1973 and 1966, and resistance is 2000, 2005, 2010 and 2020. The S&P (second chart) has support at 1130, 1125 and 1120, and resistance is 1132, 1135 and 1142. The Dow (third chart) has support at 10,350-10,360, 10,300-10,330 and 10,270, and resistance is 10,400 and 10,440. Final note: tomorrow afternoon's PPI release has now been delayed until next week.