Dow Jones Analysis 1/12/09 - Stock Market

The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/12/09

Dow Jones Support & Resistance Levels - January 12, 2009

Resistance Levels: 8750, 9000, 9088, 9150
Support Levels: , 8500, 8345

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Today's Biggest Gainers - Top 2009 Stock Gainers

The Dow Jones has closed below two key moving averages on Friday ( 10 & 50 day ).This is something worth watching as this is a technically bearish signal but as long as the Dow Jones holds 8500 everything will be ok.
On the upside, a close back over these two moving averages will probably take us back for a retest of 9000. We are getting closer to a breakout point as we can't stay in this 8500-9000 range forever. We will either start a new leg down or break out big to the upside. For More Technical Analysis, Go Here

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Nasdaq Analysis 1/12/09 - January 12, 2009

The following is Technical Analysis for the Nasdaq ( NAS ) for 1/12/09

Nasdaq Support & Resistance Levels - January 12, 2009

Resistance Levels: 1600, 1625, 1665
Support Levels: 1600, 1580, 1554

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Today's Biggest Gainers - Top 2009 Stock Gainers

The Nasdaq closed well below the support level of 1600 and also closed below the 10 day moving average on Friday. The next support level I am watching is 1553 which is the 50 day moving average. If this level is closed below, a retest of 1500 could be in store. As I've said since December, I am bullish on the Nasdaq as long as we stay above 1500...a break below would be a bearish sign. Resistance is back at 1600 once again and the 1665.53 high from last week.The Nasdaq is still in a nice uptrend from the November lows. For More Technical Analysis, Go Here

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