The following is Technical Analysis for the Nasdaq ( NAS ) for 2/3/09 Nasdaq Support & Resistance Levels - February 3, 2009
Resistance Levels: 1495, 1517, 1600, 1665
Support Levels: 1434, 1400
http://stockcharts.com/ - Chart
The Nasdaq was strong today and closed back over its 10 day moving average. This is a bullish signal despite other averages being weak such as the Dow Jones. I think the Nasdaq could really take off when it closes back over the 50 day moving average for a few days without going back under it. RIMM , GOOG, AAPL are leading the gains after reporting strong earnings. Tech could be the leading sector when we come out of this recession. The Nasdaq will really explode when you get a close over 1665.63 but this may not come until summer or fall. For More Technical Analysis - Go Here
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