The following is Technical Analysis for the Nasdaq ( NAS ) for 2/25/09Nasdaq Support & Resistance Levels - February 25, 2009
Resistance Levels: 1478, 1500, 1535
Support Levels: 1384-1387
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The Nasdaq had a huge reversal off the lows today and appears to have put in a short term bottom with yesterdays low. The 1386.68 low is very significant because this was almost exactly the close on Nov 21st after hitting the 1295 low. There is major support now at 1384-1387 but if this area is broken, the Nasdaq will retest the 1295 lows. Resistance: Right now the Nasdaq will have resistance at the 10 day moving average ( 1478 ) and 1500 will be major resistance level as well....a close back above 1500 will get me bullish on technology once again! For More Technical Analysis - Go Here
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