The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/19/08
Dow Jones Support & Resistance Levels - December 19, 2008
Resistance Levels: 8700, 8935, 9000
Dow Jones Support & Resistance Levels - December 19, 2008
Resistance Levels: 8700, 8935, 9000
The Dow Jones is starting to look toppy here as it failed to break through 9000 again today. As you know, I love the Dow over 8500 and this has been a major support level on a closing basis for the last two weeks. If the Dow Jones closes below 8500 I will be concerned.
Resistance is now at the lower 8700 area where both the 10 day and 50 day moving averages are located. I have a feeling given today's sell off, traders will be selling at the 8700 level. Closing above 8725 would bring you resistance at 8935-9000 again.
Support - 8500 and 8300 must both hold or the Dow will start to roll back over and retest the solid 8150 support level.
Resistance is now at the lower 8700 area where both the 10 day and 50 day moving averages are located. I have a feeling given today's sell off, traders will be selling at the 8700 level. Closing above 8725 would bring you resistance at 8935-9000 again.
Support - 8500 and 8300 must both hold or the Dow will start to roll back over and retest the solid 8150 support level.
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE
