Dow Jones Close 2/23/09 - Stock Market Closing Prices

Stock Market Closing Prices - 2/23/09

Dow Jones Industrial Average ( DJIA ) Close - 7114.78 Down 250.89
Nasdaq Stock Market Close - 1387.72 Down 53.51
S&P 500 Close - 743.33 Down 26.72
http://dowjonesclose.com

Libor Rates - 2/23/09

Notable Stock Closing Prices - February 23, 2009

General Electric GE - $8.84
Wal Mart WMT - $48.88
Bank of America BAC - $3.93
Citigroup C - 2.15

Commodities Closing Prices - 2/23/09

Gold - 996.60
Oil - 38.10
Natural Gas - 4.09

The Dow Jones Industrial Average closed at 7114 on 2/23/09, as the stock market sank on more news that the Government is taking an additional stake in Citigroup ( C ). This is one step further towards bank nationalization. The Dow Jones Futures opened up the day in the green but as the Stock Market opened at 9:30am, stocks continued the slide from last week. Even though most of the financials were up today, the Dow Jones hit fresh yearly lows.

So lets talk about these lows and support levels for the Dow Jones. When we closed below the 7582 closing low from November, it started a whole new down leg in the stock market. We tried for three months to form a bottom ( 7800-9000 ) several times but it has now failed. Jumping in the stock market at this point would be very risky because all bottoms are retested several times. If the Dow ends up hitting 7000 and bouncing 800 points, 7000 will most likely be retested again at some point. Until we get some clarity from our Government on this banking situation and the automakers, the markets will continue to trend down. As of right now, the Dow Jones has support around 7036 from 1997 and there isn't major support until 6300-6500.

Oh, I forgot to mention, AIG is in trouble again, they are in talks to get more money....AIG is set to report a 60 billion dollar loss from last quarter!

I will have full technical analysis of the stock market tonight, Right Here

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