Dow Jones Futures 3/2/09 - Stock Market Futures

How will the stock market open on Monday - March 2, 2009? The Dow Jones and Stock Market Futures are pointing to a lower open for pre market as AIG gets another 30 billion injection from the Government. Check out technical analysis for March 2nd.

Stock Market Futures 3/2/09 - Pre Market Trading - Updates 7:15am Est

Dow Jones Futures - Down 153
S&P 500 Futures - Down 19
Nasdaq Futures - Down 25
Nikkei - 7280 Down 288
Oil Futures - $42.22
Gold Futures - 950.30

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Dow Jones Analysis 3/2/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 3/1/09, 3/2/09

Dow Jones Support & Resistance Levels - March 2, 2009

Resistance Levels: 7377, 7449, 7500, 7552

Support Levels: 7036, 7000, 6936

http://stockcharts.com/ - Chart

Stock Market Futures

The Dow Jones set a new 52 week low on Friday bouncing off of the 7036 support level. The volume was very high due to Citi and B of A. I would think the 7000 would offer a nice level of support like 8000 did for awhile. Keep this in mind: October 28, 1997 - The Dow Jones opened at 7161, hit a low of 6936, rallied to a high of 7553 to end the day at 7498. If we get the right news, this is the potential move we could get. The 6936 offers additional support as well. For More Technical Analysis - Go Here

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Nasdaq Analysis 3/02/09 March 2, 2009 - NAS

The following is Technical Analysis for the Nasdaq ( NAS ) for 3/1/09, 3/2/09

Nasdaq Support & Resistance Levels - March 2, 2009

Resistance Levels: 1400, 1438, 1500, 1526

Support Levels: 1315, 1295

http://stockcharts.com - Chart

Stock Market Futures

The Nasdaq closed below support of around 1384-1387 and appears to be going down to test 1315 which is the 52 week closing low. Keep in mind, the Nasdaq has been making bounces back to the 10 day moving average( blue line ) and failing each time. The 10 day moving average is currently at 1438 but is tanking each day. I am waiting for a close over this level before I will hold the QLD overnight. The trends on all the major averages are broken so as a trader I have to respect that! Until they improve, I cannot hold long. For More Technical Analysis - Go Here

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Stock Market 2/28/09 Dow Jones Report

February 2009 has come and gone for the stock market. It was the worst February since 1933 as far as percentage losses. The Dow Jones fell from 8000.86 to 7062.93, down 11.72%

Here are some things I am watching for March of 2009:

• Another auto bailout? General Motors GM and Chrysler have already received 17.4 billion in Federal Loans and are asking for an additional 21.6 Billion. President Barack Obama's auto task force is trying to restructure GM and Chrysler by March 31. If GM and Chrysler fail to make a convincing case, the administration could pull the loans and essentially force the companies into bankruptcy protection.
  
  
• Jobs Report - Unemployment Rate - 3/6/09: Friday, March 6, 2009, the Government will release employment data. We could be looking at a record 700,000+ job losses in the month of February.
  
  
• Where will the bottom be for the stock market? Who knows! The fact that we closed under 741 on the S&P 500 and below 7100 on the Dow Jones has me thinking things could get worse soon. The market wants to rally as we are very oversold but the steady flow of bad news keeps flooding the stock market. The crazy thing is the VIX has remained in the 40's through this whole down draft. You just don't see the panic like we had in late 2008. With the huge down move that we've seen since the beginning of 2008, I can't imagine the bottom will form easily. I'm still looking for that gigantic whoosh day where everyone throws in the towel. Also known as capitulation! When we get this, you could see a 30-40% move off the bottom.

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