The following is Technical Analysis for the Nasdaq ( NAS ) for 1/30/09Nasdaq Support & Resistance Levels - January 30, 2009
Resistance Levels: 1518, 1555, 1600, 1665
The Nasdaq pullback to its 10 and 50 day moving averages today but it remains over 1500. This is a level that has offered great support if closed over but if closed below we have had significant trouble getting back over. After being up 4 straight sessions, today we had a pullback day. On 1/30/09, the GDP figure comes out in the morning and will set the tone for the next week. I continue to like buying tradeble dips under 1500 but if the Nas goes below 1434 it would cause problems. Over the past several months, we mainly trading in a large range from 1450 to 1650. For More Technical Analysis - Go Here
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