The following is Technical Analysis for the Nasdaq ( NAS ) for 2/27/09Nasdaq Support & Resistance Levels - February 27, 2009
Resistance Levels: 1455, 1500, 1526
Support Levels: 1384-1387, 1315, 1295
http://stockcharts.com - Chart
The Nasdaq tested the 10 day moving average for the second straight day and was rejected. We are now in the process of retesting Monday's low of 1386.68 and if we break 1384, there isn't much buying support until around the 1315 area. Remember the huge move in November on the Timothy Geithner announcement? When this news broke, the Nasdaq reversed from the 1295 low all the way up to around 1390, exactly where we are right now. As soon as we close back over the 10 day moving average it could be safe to buy technology. Until then, watch 1384, 1315, and 1295. For More Technical Analysis - Go Here
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