The following is Technical Analysis for the Nasdaq ( NAS ) for 1/21/09
Nasdaq Support & Resistance Levels - January 21, 2009
Resistance Levels: 1456, 1500
Support Levels: 1400
http://stockcharts.com - Chart
The Nasdaq tested the 50 day moving average above 1500 on Friday but failed and broke Thursday's low of 1456. We also closed at the lows today. This action is very bearish and it points to more downside to come. The next support level for the Nasdaq is 41 points away at 1400. This is a solid support level and am expecting a nice bounce once we hit this level. Resistance: On the upside, I will get bullish on a close back over 1500 as well as the 50 day moving average. For More Technical Analysis - Go Here
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
