It is very possible that we could see a dip in prices in Thursday's market that sparks a rebound intraday because as of 3:30 pm EST on Wednesday the CBOE Total Put/Call ratio was 0.91 (high, often indicating some relief from the selling is close at hand). The CBOE's Equity Only Put/Call ratio was 0.74 (also high).
The Nasdaq has a layer of immediate intraday resistance at 1864-1875. The next layer of resistance is well-defined and it thwarted advances for two days in a row; that resistance is 1887-1899. These are intraday levels. The charts based on end-of-day price bars show a band of resistance in the 1901-1960 area with a focus of 1908-1942.
Immediate support for the Nasdaq is well-organized in the 1853-1832 area.
The S&P 500 has a layer of support from 1161.00-1154 and then 1158-1143, which makes 1158-1154 a focus of support. Price action below the 1154 level appears likely for Thursday's session, but a rebound (intraday) is also likely as some hedges associated with the Triple Witch might get unwound intraday and force a reversal in prices.
The S&P 500 has been caught in a band of intermediate-term resistance which runs from 1150-1177 (daily charts). Immediate intraday resistance is a shelf at 1154-1151.60 (intraday price action). Resistance above that (intraday) is 1159-1169. Cherney is market analyst for Standard & Poor's