The following is Technical Analysis for the Nasdaq ( IXIC ) for 3/17/09Nasdaq Support & Resistance Levels - March 17, 2009
Resistance Levels: 1477, 1500, 1556, 1600
Support Levels: 1400, 1352, 1300, 1253.22, 1193.42, 1108.49
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The Nasdaq was very weak today compared to the other major averages. I continue to watch the 50 day moving average ( 1477 ) because it will be a strong resistance level as will 1500. The Nasdaq looks as though it is running out of steam based on today's trading. We've had around a 180 point move in the past 5 trading sessions. Support continues to be located at 1400 and if we start breaking though this level we will be headed back to test the 10 day moving average ( 1352 ). The next few days will be key! For More Technical Analysis - Go Here
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