- The Big Picture - http://www.ritholtz.com/blog -

Chart of the Week: Nasdaq – 6 Month Chart

Posted By Barry Ritholtz On May 23, 2005 @ 11:40 am In Markets | Comments Disabled

Last week [1], the Nasdaq Composite burst through what we
described as a “confluence of technical factors:” 200-day moving average (1995), the downtrend line from the December
highs (1996) and the 50% retracement of losses from March highs to April lows
(also 1995).

Nasdaq – 6 Month Chart
click for larger graphic

Nasdaq_52305_2 [2]

Source: Gary B.
Smith
,
RealMoney.com

The 2,000 resistance level now offers both psychological and
technical support, and is approximately 2.5% below recent close. That is your
new line in the sand – and your stop loss.

>

Random Items:

 

Everybody’s
an Investor Now

Welcome
to the age of scarcity

The
rising economic cost of the Iraq war

VCs
Take Long Look At Consumer Companies

Capturing
chaos
 

What’s
ahead for Net, digital entertainment

Brain
Candy


>

  [3]

Quote
of the Day:

"One of the funny things about the stock market is that
every time one person buys, another sells, and both think they are astute.
"  -William Feather [4]

>


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

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

URLs in this post:

[1] Last week: http://bigpicture.typepad.com/comments/2005/05/chart_of_the_da.html

[2] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/nasdaq_52305_2.jpg

[3]  : http://www.newyorker.com/critics/books/articles/050516crbo_books

[4] William Feather : http://www.quotationspage.com/quotes/William_Feather/

Copyright © 2008 The Big Picture. All rights reserved.