The following is Technical Analysis for the Nasdaq ( NAS ) for 1/09/08
Nasdaq Support & Resistance Levels - January 9, 2009
Resistance Levels: 1625, 1665
Today's Biggest Gainers - Top 2009 Stock Gainers
The Nasdaq traded most of the day back above 1600 which has been a key support level since we broke up through this area 5 trading sessions ago. What is more important is that we bounced off of the 10 day moving average ( 1580 ) and it appears we will continue to do so. If the 10 day would fail, I will be looking to see if the 50 day will hold at around 1554. These numbers will go up tomorrow as the current trend is up. Resistance: Yesterday's high of 1625 and Tuesdays high of 1665 will offer resistance if we head back higher. As I have been saying, I am bullish as long as we trade over 1500 for the Nasdaq. Tomorrow we get the jobs report, if its not a total disaster, I think we get a bounce. For More Technical Analysis, Go Here
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