Summary of the Technical Analysis for the NASDAQ

(This takes into account the near term, mid term, and longer term charts)

These charts are telling us to expect the market to begin the day with a bias to increase as it opens on Thursday and they tell us to expect re-tests of 2100.  However, this assumes that 2085 holds as support.  Any break below 2085 is likely to be met with added selling pressure.  If 2085 breaks lower expect a Market decline to near 2070.  If 2085 remains in tact as support, expect increases to near 2100 again instead.  2085 should be considered inflection on Thursday.

Near Term Chart Analysis for the NASDAQ

This charts is telling us that the Market is in a near term neutral channel and it suggests that the Market has recently tested a level of support.  This chart shows us that the trading range is tightening, but it also tells us to expect the markets to trend higher from current levels until such time as 2102 is tested again.

Near Term Support for the NASDAQ exists at 2085

Near Term Resistance for the NASDAQ exists at 2102

Mid Term Chart Analysis for the NASDAQ

This charts suggests that the market is in a mid term up-channel and it suggests that the Market has recently tested a level of resistance.  This chart, in turn, tells us to expect the market to decline from current levels until such time as 2070 is tested again.

Mid Term Support for the NASDAQ exists at 2070

Mid Term Resistance for the NASDAQ exists at 2105

Longer Term Chart Analysis for the NASDAQ

This chart tells us that the Market is facing intra-channel resistance at 2100.  Eventual breaks above 2100 appear likely over time as the Market increases towards 2195, but a pullback appears likely so long as 2100 holds as resistance (albeit temporary).

Longer Term Support for the NASDAQ exists at 1900

Longer Term Resistance for the NASDAQ exists at 2195.