The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/30/09Dow Jones Support & Resistance Levels - January 30, 2009
Resistance Levels: 8300, 8500, 8765
Support Levels: 8000, 7965, 7774
http://stockcharts.com - Chart
The Dow Jones tested its 50 day moving average yesterday and sold off today, if this is all of spike we will see, things are very ugly. 8500 is the level I am looking at on the upside, and under 8000 is the area I will be watching on the downside. The fact that we couldn't even hold the 10 day moving average for more then one day is concerning and this is the type of action you see before a move lower comes. Tomorrow the GDP number comes out so expect the market to spike if the number isn't that bad. I think we will stay in this 8000-8500 range for awhile. For More Technical Analysis - Go Here
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