The following is Technical Analysis for the Dow Jones ( DJIA ) for 5/18/09Dow Jones Industrial Average Support & Resistance Levels - May 18, 2009
Resistance Levels: 8410, 8500, 8588, 8742
Support Levels: 8000, 7750
http://stockcharts.com/ - Chart
The Dow Jones tested the 10 day moving average early in the trading day on Friday but failed again. This is something to keep a close eye on as we may be setting up for a move lower. It is to early to tell yet where the next big move is but the uptrend is still intact from the March lows. A break below 8000 would be very concerning at this point and a retest of 7750 would be in the cards. I will be buying any pullback to the 50 day moving average if it is retested. On the upside, the run to 9000 will begin as soon as we close over 8588. For More Technical Analysis - Go Here
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