Support and Resistance:
Nasdaq: Closed at 1348.30
Resistance: Exponential 50 day MVA (1350). 1357, the 1998 bear market
low. The 10 day MVA (1366). The early November, March and early November
highs (1420, 1426, and 1427, respectively). The January high (1467). The
December high (1521).
Support: The 200 day MVA (1341). The January 2002/January 2003 down
trendline at 1335. The simple 50 day MVA (1334). Some price support at
1300. 1261 (the February low) and 1250 is point where some lows have held.
S&P 500: Closed at 858.48
Resistance: The exponential 50 day MVA and the 18 day MVA (856). 868,
the top of the January trading range. The bottom of the October
consolidation range at 875. 200 day MVA (887). Then price tops at 911
(July) and 925 to 935 (November and January peaks).
Support: 850, the bottom of the January trading range, is trying to hold.
The simple 50 day MVA (847). Price support at 825.
Dow: Closed at 8069.86
Resistance: The 18 day MVA (8081) and the exponential 50 day MVA (8083).
The top of the January range at 8160. The 10 day MVA (8124). 8250, the
bottom of the October consolidation range and other index lows could act
as resistance, but they have not held much water in either direction. 200
day MVA (8391). November and January highs (8800, 8870). December high
(9044).
Support: The simple 50 day MVA (7989). Price support at 8000 (bottom of
January trading range) and then again at 7750 and 7532, the July low. |
