The following is Technical Analysis for the Nasdaq ( NAS ) for 12/10/08
Nasdaq Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
Resistance Levels: 1600
Support Levels: 1536, 1500
http://stockcharts.com - Chart
The Nasdaq reversed today after touching 1600 resistance and going up 200 points in just four trading days. The Nasdaq currently has support around the 1536 level and also major support at the 1500 area. If you get a close above 1600 you could be looking at another move higher not to mention a close over the 50 day moving average ( Red Line ). The Nasdaq hasn't closed over the 50 day moving average since August so this would be a very bullish signal and would bring in more buyers. If you close under 1500 you would be looking at a retest of 1400-1450.We are right in the middle of support and resistance so we could go either way, but it appears like we are in a new trading range, from 1500 to 1600.
http://stockcharts.com - Chart
The Nasdaq reversed today after touching 1600 resistance and going up 200 points in just four trading days. The Nasdaq currently has support around the 1536 level and also major support at the 1500 area. If you get a close above 1600 you could be looking at another move higher not to mention a close over the 50 day moving average ( Red Line ). The Nasdaq hasn't closed over the 50 day moving average since August so this would be a very bullish signal and would bring in more buyers. If you close under 1500 you would be looking at a retest of 1400-1450.We are right in the middle of support and resistance so we could go either way, but it appears like we are in a new trading range, from 1500 to 1600.
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