The following is Technical Analysis for the Nasdaq ( IXIC ) for 3/16/09Nasdaq Support & Resistance Levels - March 16, 2009
Resistance Levels: 1480, 1500, 1600
Support Levels: 1400, 1344, 1300, 1253.22
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The Nasdaq has gone up 4 straight days and has closed all 4 days above the 10 day moving average. Resistance will be around 1480 ( 50 day moving average ) and 1500. If the Nasdaq gets above 1500 there will be a lot of sellers willing to unload, so its hard for me to see it going that far in such a short amount of time. Support is at the 10 day moving average around 1345. I would be buying a pullback at this level and I strongly believe it will be tested in the coming weeks, although it will be much higher. This will be the first big test! For More Technical Analysis - Go Here
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