Nasdaq Acting Better

02/04/2009 9:23 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

Though the technical picture for both the S&P and Dow has deteriorated over the past week, the Nasdaq has been acting better. The daily chart of the QQQQ shows that the downtrend is now being tested. A daily close above $31.60-$32.00 would be a positive sign. The 200-day MA is now in the $39 area, with support at $28.

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