The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/25/08
Dow Jones Support & Resistance Levels - November 25, 2008
Support Levels: 8304, 8175, 8000
The Dow Jones broke out to the upside for the second straight day and closed over its 10 day moving average. This is very bullish! Testing 8500 was tough today but while we broke through it and hit a high of 8599, we failed to close above 8500. Tomorrow will be a big statement day for the stock markets as it could tell us a lot about where we are headed. Is this rally for real or is it just a normal bear market rally? I'm looking for a close above 8500 to get even more bullish and add to the rally. Support is now at the 10 day moving average around 8300 and as long as we stay above this level the Dow Jones will be ok. We also have support still at 8175 and 8000. A close below these two would be bearish and we will retest the 7449 low. We won't have a stock market bottom until we close over the 9794 high back in October....so while the last two days were bullish, we have a long way to go! For my past technical charts of the Dow Jones - Go HERE , Also - View Daily Stock Market Highlights from my blog.
For more stock market updates, visit, http://daytradingstockblog.blogspot.com/
