The following is Technical Analysis for the Nasdaq ( NAS ) for 1/22/09
Nasdaq Support & Resistance Levels - January 22, 2009
Resistance Levels: 1539, 1600, 1665
The Nasdaq rebounded today after putting in what appears to be a low of 1440.86 on Tuesday. A break above Friday's high of 1538.82 would be very bullish and would take the Nasdaq above both key moving averages once again. With Apple reporting blowout earnings tonight we could very well test this 1539 number tomorrow. As you know, I am bullish on the Nasdaq over 1500 and today we closed at 1507. Support is now back at 1500. If we get back to 1600 in the next few weeks, there will be sellers lined up around this area and will offer strong resistance. For More Technical Analysis - Go Here
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