Nasdaq Holding Above Lows

02/23/2009 10:31 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The Dow Industrials and Transports both made new lows last week while the S&P and Nasdaq did not. In fact, the weekly chart of the Nasdaq shows that it is well above the 2008 lows and still far above the support zone formed in 2002 and 2003. This is an encouraging sign, especially if the market can rally this week.

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