The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/8/09
Dow Jones Support & Resistance Levels - January 8, 2009
Resistance Levels: 9000, 9088, 9150
Support Levels: 8750, 8650, 8500
http://stockcharts.com - Chart
Today's Biggest Gainers - Top 2009 Stock Gainers
The Dow Jones broke back under 9000 today and tested the first of several key support levels in the 8700 and 8600 levels. The first support level for me was 8750, then 8711 which is the 10 day moving average, and finally 8665 which is the 50 day moving average. I expect the Dow to stop going down here as technical buying comes in at these levels. A blow through and close below these levels would be a red flag and we'd probably retest 8500. 9000 now becomes resistance yet again. Thursday and Friday will be big days. Lets hope we bounce and stay above 8650. This is just a normal retest of the moving averages and as I said all along, I am bullish as long as we stay above 8500.
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Dow Jones Support & Resistance Levels - January 8, 2009
Resistance Levels: 9000, 9088, 9150
Support Levels: 8750, 8650, 8500
http://stockcharts.com - Chart
Today's Biggest Gainers - Top 2009 Stock Gainers
The Dow Jones broke back under 9000 today and tested the first of several key support levels in the 8700 and 8600 levels. The first support level for me was 8750, then 8711 which is the 10 day moving average, and finally 8665 which is the 50 day moving average. I expect the Dow to stop going down here as technical buying comes in at these levels. A blow through and close below these levels would be a red flag and we'd probably retest 8500. 9000 now becomes resistance yet again. Thursday and Friday will be big days. Lets hope we bounce and stay above 8650. This is just a normal retest of the moving averages and as I said all along, I am bullish as long as we stay above 8500.
For More Technical Analysis, Go Here
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE
