The following is Technical Analysis for the Nasdaq ( NAS ) for 2/17/09Nasdaq Support & Resistance Levels - February 17, 2009
Resistance Levels: 1600, 1665
Support Levels: 1500, 1495, 1460, 1435
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The Nasdaq continues the recent uptrend and has managed to make higher lows since late November. 1600 is major resistance as well as 1665. A close above 1600 would be viewed as very bullish and we could see a nice break out to test 1665. On the downside, support is currently at 1495, Thursday's low before the bounce. The next support level is 1461 which was the made on Feb 2nd. Pullbacks under 1500 have been a strong buy and will continue to be going forward. The Nasdaq closed at 1534.36 which is below the 10 and 50 day moving averages. For More Technical Analysis - Go Here
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