The following is Technical Analysis for the Dow Jones ( DJIA ) for 2/17/09Dow Jones Support & Resistance Levels - February 17, 2009
Resistance Levels: 8000, 8100, 8376, 8404, 8500
Support Levels: 7845, 7774, 7693, 7500
http://stockcharts.com/ - Chart
The Dow Jones appears to have put in a short term bottom on Thursday at 7693.98. If this level is broken, I expect a retest of the November 20th, 21st bottoms between 7449 - 7500. This area would need to hold or the Dow could end up testing 7000 or below. At this point, the Dow needs to get above the 10 and 50 day moving averages and stay over them. Every time we break below these averages we resume the main downtrend.
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