As a follow-up to the October 17th US Equity Market “Flashpoint” & Target Levels post, in which the critical support levels on the major US stock indices were highlighted, all of those major diversified stock indices broke down & closed below those key support levels today except the lead sled dog, the Nasdaq 100, which managed to pull a stick save with a late day rally to close back above the 4749.50ish level following a brief dip below earlier in the session.

Those previous charts posted just over two weeks ago along with today’s closing charts are shown above. With the technicals continuing to deteriorate, I see very little in the charts that would indicate that these support levels will hold and/or be recovered soon. The most likely catalyst to spark an impulsive move down below the recent multi-month trading range is likely to come on any move & especially a close below today’s low of 4726 in the Nasdaq 100.