The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/11/08
Dow Jones Support & Resistance Levels - December 11, 2008
Resistance Levels: 8850, 9000
Support Levels: 8600, 8500
Support Levels: 8600, 8500
The Dow Jones is stuck in a trading range right now between the 10 day moving average and 50 day moving average...so I am neutral right now. I am looking for a major move to occur over the next week as to where we are headed next. A close over 9000 and I will be bullish, a close below 8500 and I turn bearish as the downtrend will start again. I don't think 8150 support will hold if we go down and test it again.
All eyes are on the auto bailout right now....and it appears its not a lock to pass the Senate on Friday. The markets can really go either way right now and that is why I am neutral.
All eyes are on the auto bailout right now....and it appears its not a lock to pass the Senate on Friday. The markets can really go either way right now and that is why I am neutral.
http://stockcharts.com - Chart
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