The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/21/09
Dow Jones Support & Resistance Levels - January 201, 2009
Resistance Levels: 8000, 8350, 8500
Support Levels: 7773.71, 7500, 7449.38
http://stockcharts.com/ - Chart
The Dow Jones closed below 8000 for only the second time since this level was broken back in October. This is a break down and is viewed as bearish. There are two support levels worth watching, 7773.71 and 7449.38. 8000 has been a huge support level and I wouldn't be surprised to see us bounce around this level for several days or weeks for that matter. As you can see, the 10 day moving average ( Blue Line ) has crossed back through the 50 day moving average ( Red Line ). For Chartists out there, this is a bearish signal. As long as we stay below 8500, I continue to be bearish on the overall stock market and stocks in general. For More Technical Analysis - Go Here
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