The following is Technical Analysis for the Nasdaq ( NAS ) for 3/11/09Nasdaq Support & Resistance Levels - March 11, 2009
Resistance Levels: 1400, 1456
Support Levels: 1341, 1300, 1253.22, 1193.42, 1108.49
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The Nasdaq closed over the 10 day moving average today and this is a very bullish sign. I expect the Nasdaq to trend above and below this level over the next several days but the close will be key. If the Nasdaq can stay over the 10 day average over the next several trading sessions, more buyers will step in. I will get more bullish on a close over 1400 but for now I own a small position in QLD stock. On the downside, I will look to add if we test 1300 again but I will stop out at 1295. For the S&P 500, look for a huge up move on a close over 741 resistance. For More Technical Analysis - Go Here
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