Dow Jones Analysis 4/27/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 4/27/09

Dow Jones Support & Resistance Levels - April 27, 2009

Resistance Levels: 8000, 8190.66, 8300, 8500

Support Levels: 7957, 7750, 7550

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The Dow Jones closed back over 8000 and the 10 day moving average proving once again there is still juice left in this market. The Dow is pressing up against the downtrend line and is trying the break out above it. Next week will be a big test as we will either break up through this level and hold it or continue to trend along down with it. A nice base has formed around 7750, any break below this level would be viewed as bearish. I feel the shorts would then come back on the attack again. I feel once the stress test results are released the market is going to move big one way or the other..stay tuned!

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