Dow Jones 10, 50 , 200 Day Moving Averages - Alert

The Dow Jones along with the other major stock market averages ( NASDAQ, S&P 500 ) are very weak today after Nouriel Roubini has made another bearish call on the stock market. Given how high oil prices have risen over the past three months, Roubini is predicting a significant stock market correction.

Dow Jones 50 Day Moving Average Alert!

Discuss Stocks - http://stockstobuy.org

I started to get cautious last week as the Dow Jones closed below 8500 for the first time in a little while but more notably, closed back below the 10 and 200 day moving averages. This was a very bearish sign.

Today, June 22 - 2009, the Dow Jones is testing the 50 day moving average at 8379 and so far it has held. The 50 day moving average will continue to rise over the next week and if the Dow closes below this level, there is major downside risk to the stocks. The next major support level is 8250, a level the Dow Jones held on a closing basis several times on the last pullback. If this fails, I will be looking for Dow 8000.

Keep an eye on this situation!!!!!

Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Stock Message Board

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free