The following is Technical Analysis for the Nasdaq ( NAS ) for 12/16/08
Nasdaq Support & Resistance Levels - December 16, 2008
Resistance Levels: 1550, 1603
Support Levels: 1500
Support Levels: 1500
http://stockcharts.com - Chart
The Nasdaq briefly traded below key support of 1500 today but bounced back to close over this level. The Nasdaq did close below the 10 day moving average today for the first time in two weeks so i'd be a bit cautious here. I am bullish above Nasdaq 1500 so I remain positive.
Not much has changed today and I still believe a close back over the 50 day moving average could really start a nice up move for the Nasdaq. I am expecting the volume to be light from now until the end of the year so these markets could get volatile in the coming weeks. Nasdaq Support 1500 - Nasdaq Resistance 1550, 1600. For more technical analysis, Click Here
Not much has changed today and I still believe a close back over the 50 day moving average could really start a nice up move for the Nasdaq. I am expecting the volume to be light from now until the end of the year so these markets could get volatile in the coming weeks. Nasdaq Support 1500 - Nasdaq Resistance 1550, 1600. For more technical analysis, Click Here
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