The following is Technical Analysis for the Nasdaq ( IXIC ) for 3/31/09Nasdaq Support & Resistance Levels - March 31, 2009
Resistance Levels: 1500, 1513, 1600
The Nasdaq is starting to break down after a huge run over the past 3 weeks. I continue to believe that the Nasdaq Bottom has been put in at 1265 but I cannot say this about the Dow or the S&P 500 just yet. The Nasdaq broke closed below the 10 day moving average so I expect a retest of the 50 day moving average ( 1464 ) to be tested sometime this week. If we close below the 50 day, I think we head back to 1400. The postive thing about this sell-off is the volume has been light. Spikes back to the 10 day moving average ( 1512ish ) will be met with sellers. For More Technical Analysis - Go Here
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