The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/17/08
Dow Jones Support & Resistance Levels - December 17, 2008
Resistance Levels: 9000, 9200, 9654
Support Levels: 8750, 8500
http://stockcharts.com - Chart
The Dow Jones has closed over the 50 day moving average today for the first time since September. This is very bullish and if we can hold this level for a few days I think we can test the 9000 level on a closing basis with this positive Federal Reserve News. I am now buying pullbacks to and below the 10 day moving average. If and when the Dow closes back over 9000, the next resistance target would be around 9200 and then the election high of 9654. Volume was strong this afternoon and could be a sign of things to come. More Technical Analysis - Go HERE
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE and get my posts right on your homepage or emailed to you.
