Nasdaq Composite and Long-Term Support

I’m not much of a market technician, but I’m passing along this chart because the time period is so long.

In March, the Nasdaq came within 10% of hitting the long-term support line. Even though it looks close, the black line is around 2050 today, which is far below where the Nasdaq (^IXIC).

Posted by Eddy Elfenbein on June 20th, 2008 at 11:03 am

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.