Short Term Nasdaq Analysis 

The Nasdaq since late November has been encountering resistance near 2470 while finding support near 2390.  In the near term watch the 2420 level which is a minor support area (brown line).  If the Nasdaq drops below 2420 this will likely lead to a retest of the 2390 level which is also where the Nasdaq's 50 Day EMA (green line) now resides at.   Thus it will be important for the Nasdaq to hold support near the 2390 level in the weeks ahead.


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