Today,
1/21/09, the Dow Jones and Stock Market are opening higher due to a combination of factors. First, I think we are having a nice oversold bounce around key support and resistance level such as
8000 on the Dow Jones and between 815-820 on the S&P 500. Second, we had a nice earnings report out of IBM ( IBM ) last night which is positive for the Nasdaq and the technology stocks. IBM also guided higher on 2009 earnings. Lastly, Citigroup ( C ) has FINALLY cut their dividend to a penny. This might turn out to be the bottom for Citi as usually when companies' slash their dividend, it is the final blow. Only time will tell. Other things to note this for the Open, Oil has started the March contract and is back trading above $40. Check out my Technical Analysis stock charts of the Dow Jones and Nasdaq. It is important to know your support and resistance levels so that you can make better stock trades! Also, for you day traders out there, keep an eye on upcoming earnings dates!
Stock Market Opening Prices - January 21, 2009
Dow Jones Open - Up 113
Nasdaq Open - Up 16
S&P 500 Open - Up 10
Oil Prices - $40.78
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
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