The following is Technical Analysis for the Nasdaq ( NAS ) for 1/27/09Nasdaq Support & Resistance Levels - January 27, 2009
Resistance Levels: 1500, 1519, 1600, 1665
Support Levels: 1444, 1435, 1400
Support Levels: 1444, 1435, 1400
http://stockcharts.com - Chart
The Nasdaq had a great day from my point of view today, retesting its 10 & 50 day moving averages. As you can see, we stopped 4 points short of the 50 day. It would have been nice to close over these 2 levels but resistance is called resistance for a reason - it won't be easy. I'd look for the Nasdaq to close over 1500 over the next few days and that could give a buy signal but if we get back to 1600 i'd be selling. On the downside, if we break through the recent low of 1434.08, I believe we will head to test 1400 and that needs to hold or else it will get ugly. For More Technical Analysis - Go Here
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