Little Big Momma: What’s the support and resistance for the dow and nasdaq?
I know the S&P 500 support and resistance is 1040 and 1100-1110. I keep a closer watch on the SP500 but I’d like to know the Dow and Nasdaq’s support and resistance numbers, too.
Answers and Views:
Answer by John S
There’re no significant support or resistance levels for the Dow and NASDAQ because professionals, and their algorithmic trading programs don’t look at them for technical analysis. People (mostly NYSE floor traders) still occasionally talk about major psychological levels on the Dow like 10000, 11000, 12000 etc. but those levels are generally much less important than support and resistance and moving averages for the S&P.
What is your time frame?
Are you asking for the daily Pivot Points.
Some people use the 200 day MA, or the 100 day, etc.
Some people use monthly and weekly charts first.
Others use the recent lows and highs, or the previous day’s close or the weekly open.
Or are you looking at the intraday chart? Again, what time frame?
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