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Stock Market Closing Report - 12/8/20 December 8, 2020

Saturday, December 6, 2008

Dow Jones Analysis 12/8/08 - Stock Market


The following is Technical Analysis for the Dow Jones for 12/8/08


Dow Jones Support & Resistance Levels - December 8, 2008


Resistance Levels: 8675, 8831, 8925, 9000, 9500
Support Levels: 8470, 8300 , 8150, 8000



The Dow Jones hit support of 8150 on Friday and rallied into the close after a horrible jobs number. Very Bullish Action! Look for the Dow Jones to have some trouble in the 8675-8831 area which was the trading range on Black Friday. This range will be resistance as well as the 50 day moving average ( Red Line ) coming back into play again. If the Dow Jones closes back over 9000, you could see 9500 very quickly.


Support - The Dow Jones now has SOLID support at 8150-8200 and if this level is closed below, we will most likely test 8000 once again. I am buying pullbacks in the 8300 area which has turned out to be a nice level where buyers come in. Bottom's are made when Stocks go up on Horrible News! Check out Nasdaq Analysis.


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Nasdaq Technical Analysis 12/08/08 - Dec 8, 2008


The following is Technical Analysis for the Nasdaq ( NAS ) for 12/08/08


Nasdaq Support & Resistance Levels - December 8, 2008


Resistance Levels: 1536, 1600

Support Levels: 1500, 1470, 1400



The Nasdaq, like the Dow, hit support ( 1400 ) and rallied hard into the close after a horrible jobs report. The Nasdaq actually performed better and closed over a key resistance level of 1500.

Resistance - There is resistance between 1512.41 - 1535.57 which was the range on Black Friday but a close above 1536 could spark a nice rally to test 1600. If we don't get a big sell off on Monday, this could play out in the coming weeks.

Support - The Nasdaq has SOLID support at 1400 and if we would get a close below 1400 it most likely go down to test the lows again at 1295. Keep an eye on 1470 as the first major level of support if 1500 is broken...1470 will be near the 10 day moving average.

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Apple AAPL Analysis 12/8/08 - December 8, 2008

The following is technical analysis for Apple Inc ( AAPL ) stock for 12/08/08. You can find a chart of this technical analysis by visiting - http://blackberrystocks.com/aapl.html

Apple ( AAPL ) Technical Analysis:

Apple ( AAPL ) appears to getting ready to break out to the upside after closing over the 10 day moving average for the past nine trading sessions. This hasn't happened since back in the spring. I am looking to get long as soon as Apple breaks the $96.23 high and the next resistance level would be located at $100...if AAPL can close over $100, you are looking at testing $112 once again. The real fireworks will happen if you can get a close over $116.40 and $120. As for support, $89 seems to have held on a closing basis over the past several weeks and this is where I'd put my stop. After a long basing period, Apple stock seems to be ready for a major move in my opinion. Watch $96.23

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Visa ( V ) Analysis 12/8/08 - Visa Technical Analysis

The following is technical analysis for Visa ( V ) stock for 12/08/08. You can find a chart of this technical analysis by visiting - http://blackberrystocks.com/visa.html

Visa ( V ) has closed over the 50 day moving average for the first time since August...this is very bullish. Pullbacks under $50 can be bought with a stop at $47. Visa has formed a double bottom around $43.60 and appears to be starting a new uptrend. Visa has resistance at $55-$57 and also $60-$62 so you have some nice gaps of upside in between. If Visa closes above $62 at any point, I think you can see Visa slowly climb back to test $70. Visa appears to have finally bottomed!

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