Dow Jones Chart - The following is Technical Analysis for the Dow Jones ( DJIA ) for 8/12/09Dow Jones Industrial Average ($DJI) Support & Resistance Levels - August 12, 2009
Resistance Levels: 9249, 9438, 9500
Support Levels: 9040, 9000, 8600
http://stockcharts.com/ - Chart
The Dow Jones closed below the 10 day moving average today on the eve of the Fed Meeting tomorrow. I am now being cautious with taking any risky trading positions and I will be setting tighter stop orders. Today's close was a trend change and while the 10 day has been violated, I need to wait until after the Fed meeting to get a sense of the next direction. 9000 is a solid support level so the downside could be limited to another 240 points or so. A close back above the 10 day moving average would be bullish. Stay tuned but keep in mind what happened today.
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