Market Update : DJIA & NASDAQ

Dow Jones Industrial Average DJIA
R - 10,800
S - 10,270
The mighty Dow is losing some steam. The early part of the week didn't see much happen and the last two sessions while getting a boost finished weak. Unless we see some good volumes these next two weeks to the end of the quarter, we may finish lower than the Jan 20, 2010 high. This is not a major issue as long as DJIA finishes higher than the Dec 31, 2009 close of around 10,600 where by the fund managers can at least say that quarter on quarter they are above last quarters close even while marginal.

NASDAQ Composite Index COMP
R - 2,450
S1 - 2,340
S2 - 2,120
We have new resistance at 2,450. The last time the NASDAQ was there was mid-Aug 2008 before the collapse of the markets. Expect some pull back in NASDAQ listed stocks, so take profits over the next couple of weeks or at least protect the gains you have for when the market does pull back.