The following is Technical Analysis for the Nasdaq ( NAS ) for 2/12/09Nasdaq Support & Resistance Levels - February 12, 2009
Resistance Levels: 1532.58, 1600, 1665
The Nasdaq continued the slide today and every bounce back to the 50 day moving average failed. Until we get back over this moving average, the Nasdaq is very vulnerable. The Nasdaq has shown great strength lately so when the markets finally turn, tech is where you will want to be. As long as we hold 1500, I remain bullish and will buy these pullbacks. I have been actively trading the QLD. For more technical analysis - Go Here
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