Stock Market 3/3/09 March 3, 2009 Dow Jones Report

The Stock Market Futures are indicated higher in pre market today, March 3rd, 2009. After Asian Market hit fresh lows last night they began to bounce. The Nikkei 225 index was only down 50 points. The Reserve Bank of Australia was expected to slash interest rates but they ended up keeping rates the same. This is viewed as very good news for the world markets, or atleast down in Australia.

Pre Market so far indicates that bank stocks are going to get a bounce today. Citigroup is back to $1.34 Up 11% and Bank of America is up 5%. Keep in mind, this can all change very quickly!

This afternoon Auto Sales come out for the big 4 auto makers which includes Toyota. Sales are supposed to be horrible but for the most part they are already priced in.

Gold is falling again to support of around $925, the next support level for Gold Prices would be around the 875 area. Oil is rising to around $41 after falling hard yesterday. Oil was actually trading around $39.50 last night at one point.

The biggest events besides auto sales today will be separate hearings, in Washington, from Timothy Geithner and Ben Bernanke. The market could move on things that they say or new information revealed.

Check out my technical analysis of the stock market for support levels and resistance levels.

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