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Chart of the Day: Nasdaq (6 Months)

Posted By Barry Ritholtz On May 17, 2005 @ 3:51 pm In Economy,Markets | Comments Disabled

The Nasdaq Composite is nearing a confluence of several
technical factors. We see initial
resistance at the 200-day

moving average (1995). The downtrend line from the December
highs is at 1996. Further, the Nazz has
retraced 50% of the losses from the March highs to the recent lows, near 1,995.

Nasdaq – 6 Month Chart
click for larger chart

Nasdaq_6_mos_51705 [1]

Source: Mike
Panzner, Rabo Securities

The 2,000 resistance level also offers psychological
resistance, and is the bottom of the prior trading range’s support (now
resistance). The Odds favor a short-term pullback.


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Quote of the Day

"In the stock market those who expect history to repeat
itself exactly are doomed to failure."

-Yale Hirsch [9]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2005/05/chart-of-the-day-nasdaq-6-months/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/nasdaq_6_mos_51705.jpg

[2] : http://www.businessweek.com/magazine/content/05_20/b3933001_mz001.htm?campaign_id=nws_insdr_may6&link_position=link1

[3] Experts Are at a Loss on Investing: http://www.latimes.com/business/la-na-nobel11may11,1,3744665.story?coll=la-headlines-business

[4] Everybody’s wrong about the Video iPod thing: http://apple.slashdot.org/comments.pl?sid=148958&cid=12485267

[5] ‘Rocketboom’ May Be Future of TV News: http://www.washingtonpost.com/wp-dyn/content/article/2005/05/06/AR2005050600387.html

[6]  : http://www.corante.com/brainwaves/archives/2005/05/11/the_neurotechnology_industry_2005_strategic_investment_and_market_analysis_report_of_the_global_neurological_disease_and_psychiatric_illness_markets.php

[7] 8 Types of Advice: http://www2.darwinmag.com/read/feature/may05_advice.cfm

[8] Everything You Always Wanted to Know About Blogging: http://www.mudvillegazette.com/archives/002684.html

[9] Yale Hirsch: http://www.ritholtz.com/blogYale Hirsch

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