The following is Technical Analysis for the Nasdaq ( NAS ) for 2/11/09Nasdaq Support & Resistance Levels - February 11, 2009
Resistance Levels: 1533, 1600, 1665
Support Levels: 1500, 1495, 1476
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The Nasdaq fell big today with the overall stock market sell off. After testing 1600 for the second straight day and failing, the Nasdaq closed under the 10 and 50 day moving averages which are basically even with each other at 1532. 1532 is now minor resistance and 1500 would be the next support level for the Nasdaq. Pullbacks under 1500 have been a strong buy lately so if we get down there, I will be pulling the trigger. Once 1600 can hold on a closing basis for more then 3 day, we might have big rally. For more technical analysis - Go Here
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