One of the seals has failed in the pump. i.e cut o-ring or a leather rolled out of place.
Go to this link.. http://www.chapinmfg.com/PartsAccessories.asp
Find your model number and on the far right of the page is the repair kit for your sprayer.
This is the 6-6180 repair kit: http://www.chapinmfg.com/ShowParts.asp?PartNum=6-8180
This is the 6-1925 repair kit: http://www.chapinmfg.com/ShowParts.asp?PartNum=6-1925
The repair kits above are examples only... find the kit that is for your sprayer and order it.
Once you find and replace the damaged seal it will work fine.
Thanks for choosing FixYa,
Kelly