Next support level in the Nasdaq and S & P

[johnny_steel]

12000 is the next area of support on the nasdaq. You can clearly see it on a 2 year chart. Its the area from October - December of 2020. If that fails, the 10000 area comes into play which is the all time high just prior to covid.
The S & P support is 3600 and then 3400 which is the high prior to covid.
Very short term support is 4000.

 

[SunTrader]

There is all kinds of support for both between here and there. Whether or not they will hold is anyone's guess - such as $SPX:-

 

[7out]

Support is pretty irrelevant in these type of market action.

 

[maxinger]

I prefer NQ to go below 10000.00

too many digits already.
elderly folks can't see those digits.

anyway now it is the time to trade 24x7.
Asians, Europeans, Americans will be very excited to trade today

 

[S2007S]

I could see the nasdaq dropping below 10,000 once the bigger tech names join in on the collapse.

I always find it amusing the psychology of the market where say everyone loved buying tesla at 834, 876, 903, 936, 957, 978, 998, 1023, 1076 and all the way up to historical highs not at all ever thinking that it could drop back a few hundred points in a matter of weeks and now seeing it under 700 at the open tomorrow, but not wanting anything to do with the stock.

This is just proof that chasing stocks isn't worth it sometimes that eventually the markets Always correct.

 

[S2007S]

12000 is the next area of support on the nasdaq. You can clearly see it on a 2 year chart. Its the area from October - December of 2020. If that fails, the 10000 area comes into play which is the all time high just prior to covid.
The S & P support is 3600 and then 3400 which is the high prior to covid.
Very short term support is 4000.

By the time the nasdaq gets to 12000 the fed will make an announcement of no rate hikes....now if it drops belown10k the fed will keep rates to 0% and juicethe market with more QE!!!! Gotta give the markets some juice.

 

[murray t turtle]

Support is pretty irrelevant in these type of market action.

%%
Exactly\except for some tech trenders...............................................................
SDOW+ SH still look fairly strong on weekly + monthly charts.
May not have time to get in SDOW, see how it closes \later in FEB

 

[SunTrader]

Support is pretty irrelevant in these type of market action.

Really? $SPX gapped below levels 1 and 2 on open (above chart), but bounced (4114.65 vs 4115.68 or within +/- 1 point) off 3rd level.

Price previously traded, not some moving average fictitious might be here, might be there level.

 

[Wide Tailz]

There is all kinds of support for both between here and there.

And the bear case is the massive, yuuuuge head and shoulders top

 

[Overnight]

By the time the nasdaq gets to 12000 the fed will make an announcement of no rate hikes....now if it drops belown10k the fed will keep rates to 0% and juicethe market with more QE!!!! Gotta give the markets some juice.

You missed the memo...Powell and the Fed no longer care about the markets, since they are no longer allowed to trade the markets.