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Friday, April 3, 2009

Dow Jones Analysis 4/6/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 4/6/09

Dow Jones Support & Resistance Levels - April 6, 2009

Resistance Levels: 8275, 8500

Support Levels: 8000, 7950, 7700




The Dow Jones closed over 8000 today for the first time since early February 2009. This bodes well for further gains next week. Resistance is at 8075 and the downtrend line at around 8300-8350. We had a nice push through 8000 in the last 10 minutes after trading below this level all the day. I wouldn't be surprised if we rise and sell off back to 8000 for the next several trading sessions. I will now be buying pullbacks to the 50 day moving average 7559. A close below 7500 at any time would be very bearish...so if we do get down there, watch this area closely.

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