The following is Technical Analysis for the Dow Jones ( DJIA ) for 3/4/09Dow Jones Support & Resistance Levels - March 4, 2009
Resistance Levels: 7000, 7150, 7449, 7500, 7552
Support Levels: 6700, 6500, 6350
http://stockcharts.com/ - Chart
The Dow Jones broke another 52 week low today and had a horrible final hour like the past 3 trading sessions. I am actually going to get long this market when we have a decent close for once. I feel a bounce is soon in the cards and it could be a significant one. We haven't been this oversold since the previous bottom in November. If you want to take less risk, wait until we have a close back over 7000 and use the 7000 as a stop. The 10 day moving average is something else to watch for a close over. These will be a sign that the market is improving.
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