The following is Technical Analysis for the Nasdaq ( NAS ) for 12/14/08 - 12/15/08
Nasdaq Support & Resistance Levels - December 15, 2008
Resistance Levels: 1575, 1603, 1675
Nasdaq Support & Resistance Levels - December 15, 2008
Resistance Levels: 1575, 1603, 1675
The Nasdaq closed over 1500 for the sixth straight session...reversing from the lows to close back over the 1530 level. 1530 has been last weeks low with the exception of Thursday's late day sell off. The Nasdaq now has solid support at the 1500 level as the 10 day moving average is 1503. I continue to buy pullbacks at or below the 10 day moving average and sell closer to the 50 day moving average until the trend changes.
Resistance: The Nasdaq has been having trouble between the 1575 - 1603 area. If the Nasdaq can close over this area, next stop would be the 1670-1700 resistance level. Closing over the 1603 level would also cause more shorts to cover since the Nasdaq would be closing over the 50 day moving average, 1st time since August. I'm Bullish in the Nasdaq! For more technical analysis, Click Here
Resistance: The Nasdaq has been having trouble between the 1575 - 1603 area. If the Nasdaq can close over this area, next stop would be the 1670-1700 resistance level. Closing over the 1603 level would also cause more shorts to cover since the Nasdaq would be closing over the 50 day moving average, 1st time since August. I'm Bullish in the Nasdaq! For more technical analysis, Click Here
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