The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/6/09
Dow Jones Support & Resistance Levels - January 6, 2009
Resistance Levels: 9000, 9065, 9150
Support Levels: 8750, 8650
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Today, the Dow Jones failed to make a new high and appears to be topping out at 9065. This is where your first point of resistance is after 9000. If the current trend is like the last years trend, we will go back and retest the 10 and 50 day moving averages around 8650-8700 or we will stall here and wait for them to catch up to this current break out. The volume started to come back today but it was still very light. As for now, I am waiting for a pullback or getting back into stocks if we break 9065.
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