Thursday, May 24, 2007

NASDAQ...Where Is The Next Support Level?



Today the indices were all down with the NASDAQ being the weakest. Early in the morning we saw the dow jones industrials move above yesterday's high while the NASDAQ didn't even come close to testing yesterday's highs. A few minutes later all 3 indices moved lower and trended lower throughout the remainder of the day.

Looking at the above chart of the Q's, the next support level is at 45.25 to 45.50. This area coincides with the February high and the 50 day moving average. If you are a bull, this would be the place to be a buyer.

Posted by Kevin

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1 comment:

Kevin said...

Thanks TRS.

5:33 PM

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