NASADAQ Support Levels

07/29/2009 1:56 pm EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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In what is clearly a very resilient market, we may actually get a lower close today in all of the major averages. Near mid-day, the A/D numbers are 2-1 negative and the McClellan Oscillator has already turned lower. It should soon decline to the zero line, if not -100. The NASDAQ composite has 38% support at 1880, with the 50% level at 1850.