Dow Jones Chart - The following is Technical Analysis for the Dow Jones ( DJIA ) for 2/8/10
Dow Jones Industrial Average (INDEXDJX:.DJI) Support & Resistance Levels - February 8, 2010
Resistance Levels: 10,200, 10,300
Support Levels: 10,000, 9835
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The Dow Jones staged a huge reversal on Friday afternoon and closed up for the trading day. This is a classic short term bottom signal and we could be looking at a recovery next week. Support is located at 9835 as well as 9700. The uptrend is still intact from the March lows but a break below 9679 would be bearish. On the upside, there is resistance located between 10,200-10,300. If the Dow Jones can close back above 10,350, I think we could see a retest of the highs. February and March are two horrible months for the stock market but April and May are historically good.
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