The following is Technical Analysis for the Nasdaq ( NAS ) for 12/19/08
Nasdaq Support & Resistance Levels - December 19, 2008
Resistance Levels: 1580, 1600
Support Levels: 1535, 1500
http://stockcharts.com - Chart
The Nasdaq failed again today at 1600..hitting a high of 1592 and then selling off late in the day back to the 10 day moving average. 1600 is starting to be a problematic area but as long as we remain above 1500 I am bullish. The Nasdaq has yet to close above the 50 day moving average like the Dow Jones has, and if this would happen it would bring technical buying into the Nasdaq Market. This could put us over the 1600 level. Volatility is dying down going into the end of the year.
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Nasdaq Support & Resistance Levels - December 19, 2008
Resistance Levels: 1580, 1600
Support Levels: 1535, 1500
http://stockcharts.com - Chart
The Nasdaq failed again today at 1600..hitting a high of 1592 and then selling off late in the day back to the 10 day moving average. 1600 is starting to be a problematic area but as long as we remain above 1500 I am bullish. The Nasdaq has yet to close above the 50 day moving average like the Dow Jones has, and if this would happen it would bring technical buying into the Nasdaq Market. This could put us over the 1600 level. Volatility is dying down going into the end of the year.
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE and get my posts right on your homepage or emailed to you.
