Dow Jones Analysis 9/11 - Dow Jones Technical Analysis 9/11/08

The following is technical analysis for the Dow Jones Industrial Average:

The Dow Jones futures are at 11,165 so far this morning, down 120 points. Some key levels to watch are 11,125, 11037.85, and 10827. These are lows, and they should provide some support. If we close below any of these levels, they become resistance.

The point and figure chart has the Dow testing 10,350....so if we break all of the above levels, look for this to be hit.

The 10 day moving average is at 11,400 and that would be some resistance. When we close over 11,867, the lows will have been made, and we will go a lot higher! Mark that number down!

9/11 Lehman ( LEH ) Downgraded by Citigroup ( C )

This morning Lehman Brothers ( LEH ) is getting pounded yet again. I can't wait until this thing goes to zero so we can stop talking about it. The company has been in denial since it went under $50. The have access to the discount window yet they are not using it. The claimed a month ago everything was fine yet they are selling off assets at the worst time.

Anway...to the Lehman ( LEH ) news of the day.....

Citigroup ( C ) is cutting Lehman to hold from buy.....price target $9. This is halarious....why didn't Citigroup do this on Monday went LEH stock was at $15? They would look like heros, but instead, C looks like idiots today...waiting so long to downgrade it.

What I can't understand is why financials are still downgrading other financials? The financials have been in freefall since early 2007..... don't you think they have been a sell this whole time?