Dow Jones Analysis 1/16/09 - Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/16/09

Dow Jones Support & Resistance Levels - January 16, 2009

Resistance Levels: 8350, 8500, 8765

Support Levels: 8150, 8000, 7965
http://stockcharts.com - Chart

The Dow Jones bounced 250 points off the support level of 8000 today. This is bullish action because it shows you where the buyers are located. Expect this to happen again if 800 is tested. Right now, there is some support at the 8150 level, a level we haven't closed below since November. On the upside, look for selling to hit the market when we get near 8500 and the 50 day moving average ( 8598 ). These will be major resistance levels.

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Dow Jones Analysis 1/15/09 - Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/15/09

Dow Jones Support & Resistance Levels - January 15, 2009

Resistance Levels: 8350, 8500, 8765

Support Levels: 8150, 8000, 7965
http://stockcharts.com - Chart

Here We Go Again - The Dow Jones tested key support at 8150 and bounced off this level. The Apple news and Bank of America news after hours will most likely take the Dow down to test 8000 tomorrow. 8000 has been a major area of support and if this level is closed below, it will cause more panic selling. 8500 now becomes a major resistance level and when we get there traders will be selling it.
Apple ( AAPL ) CEO Steve Jobs stepping down until June - Bank of America ( BAC ) asking for more Government aid - JP Morgan ( JPM ) earnings due out 1/15/09 - 7:30am EST - For More Technical Analysis - Go Here

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