Nasdaq Analysis 3/27/09 March 27, 2009

The following is Technical Analysis for the Nasdaq ( IXIC ) for 3/26/09, 3/27/09

Nasdaq Support & Resistance Levels - March 26, 2009, March 27, 2009

Resistance Levels: 1600, 1665

Support Levels: 1491, 1462

http://stockcharts.com - Chart

The Nasdaq is ripping higher after bouncing off the 10 day moving average yesterday. It appears the Nasdaq bottom is finally in but the rally has gotten ahead of itself. The next major resistance level is 1600 which will be no easy task. Pullbacks to the 10 day moving average can now be bought but I would be selling a close below the 50 day moving average. I don't even see the Nasdaq going back to below 1375 thats how big this recent move has been.

Bottom Line - Buy pullbacks at the 10 and 50 day moving averages with a tight stop on a close below the 50 day moving average.

Research in Motion ( RIMM ) Upgraded by Goldman Sachs - Buy ahead of Earnings - RIMM back above the 50 day moving average

Google ( GOOG ) - Upgraded $450 price target - Canaccord Adams

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