The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/13/09
Dow Jones Support & Resistance Levels - January 13, 2009
Resistance Levels: 8500, 8750 ,9000, 9088, 9150
Support Levels: 8350, 8150
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The Dow Jones has hit a key support level of 8500 and closed below this today. This is a very bearish signal and something worth watching. I have said all along that I am bullish only above 8500. The next support level for the Dow is around 8350 and if that is broken, you could test the Major support level of 8150 that has held multiple times in the past four months. 8500 will now be a minor resistance level in which buyers who got caught there will sell the break even. Lets hope we get back above 8500 tomorrow. Alcoa earnings tonight appear to have taken us back over 8500 for tomorrow. This could all change fast so stay tuned... For More Technical Analysis, Go Here
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