The following is Technical Analysis for the Nasdaq ( NAS ) for 3/3/09Nasdaq Support & Resistance Levels - March 3, 2009
Resistance Levels: 1372, 1400, 1438, 1500, 1526
Support Levels: 1315, 1295
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The Nasdaq ended at the lows today and is testing the 52 week closing low of 1316.12 from Nov 20th of last year. If this level is closed below, you could see the Nasdaq break down and test 1300 and the 1295 low from Nov 21st. The high of 1372 today becomes major resistance as well as 1400. Are we near the bottom? The Nasdaq hasn't been this oversold since the November bottom was hit so it is likely we get a strong rally soon. Tomorrow, Timothy Geithner and Ben Bernanke will speak at separate hearings. For More Technical Analysis - Go Here
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