Dow Jones Hitting Support Level 11/19/08

The Dow Jones is flirting with support level #1, 8175, this afternoon, 11/19/08, and we keep bouncing off support. The Dow Jones was down 250 at around 8175 just minutes ago and we bounced 30 points back over 8200. View my Technical Analysis on the Dow Jones HERE. This is a chart I view daily. I must say, breaking down will not be easy since we've tested 4 times now. The Bears will really have their work cut out for them to break down this market. If the Dow Jones closes below 8000, you will test 7500-7600 within downside to 6900-7000. I believe this will be a quick event however. The volatility will be wild just as it was back in October. We are now 8212 on the Dow so the test of 8175 held for now.........

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