The NASDAQ earned a few frequent flyer miles Thursday.  They were up around 1885 early and then dropped all the way down below 1840 before noon.  That would have been a pretty full day right there but they also rallied back up to 1875 only to turn and close near 1857.  It was sort of like watching a tennis match.  There is a very small chance that they will use 1860 as resistance if they are extremely weak Friday but I think the better resistance is near 1875 again.  Trading and closing above that level would make them look pretty good, I think.  Support could possibly set up in the 1835 level but I think their upside potential is greater if they don’t get anywhere near that low.  It seems to me that they have been given plenty of reason to plummet without really doing so, which makes me believe it won’t take much to get them to rally again.

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