The following is Technical Analysis for the Dow Jones ( DJIA ) for 2/18/09Dow Jones Support & Resistance Levels - February 18, 2009
Resistance Levels: 7774, 8000
Support Levels: 7500, 7449
http://stockcharts.com/ - Chart
The Dow Jones has broke below the Hogan Bottom today and is testing a MAJOR support level of 7449-7500. If these levels do not hold on a closing basis, I think over time, the Dow could test 6800-7000. A break down like this would be devastating for the Stock Markets here and around the world. It would also be a great buying opportunity while everyone panics. I will not be getting bullish on the Dow Jones until we close back over 8000. The 7449 low was put in on November 21, when it was leaked that Timothy Geithner will become the Treasury Secretary....and he has failed so far. For More Technical Analysis - Go Here
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