Dow Jones Analysis 1/5/09 - Stock Market Analysis

The following is Technical Analysis for the Dow Jones for 1/4/09, 1/5/09

Dow Jones Support & Resistance Levels - January 5, 2009

Resistance Levels: 9150, 9323, 9654

Support Levels: 9000, 8750, 8650, 8500, 8350

http://stockcharts.com - Chart
Today's Biggest Gainers - Top 2009 Stock Gainers

The Dow Jones finally broke through the resistance level of 9000 on Friday. While this happened on low volume, it is impressive to see and a very bullish signal. The Dow Jones has another hurdle of 9150 resistance to get through before testing the Election High of 9654. Dow 9000 now acts as support as well as 8750.
I will be buying pullbacks at and below the 10 and 50 day moving averages with a stop at 8500. Next week will be critical as we get the December Jobs Report among other key economic data.

For Technical Analysis of the Nasdaq, go HERE

For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE

Nasdaq Analysis 1/05/09 - January 5, 2009

The following is Technical Analysis for the Nasdaq ( NAS ) for 1/04/09, 1/05/09

Nasdaq Support & Resistance Levels - January 5, 2009

Resistance Levels: 1675, 1690, 1700, 1785

Support Levels: 1600, 1550, 1500

http://stockcharts.com/ - Chart

Today's Biggest Gainers - Top 2009 Stock Gainers

The Nasdaq broke and closed over a huge resistance level on Friday of 1600. This is very bullish!! Now I know what some are saying, 1600 was broken on low volume. While this is true, you can't help but to see where it closed, 1632. The next resistance for the Nasdaq is around 1675-1690....look for some resistance selling to be located there. If 1700 is closed over, the Nasdaq could be headed to test the Election High of 1786.Support is now at 1600 and 1550....I will now be buying pullbacks at or below the 10 and 50 day moving averages. For Technical Analysis of the Dow, go HERE

For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE