Dow Jones Chart - The following is Technical Analysis for the Dow Jones ( DJIA ) for 8/4/09Dow Jones Industrial Average ($DJI) Support & Resistance Levels - August 4, 2009
Resistance Levels: 9284, 9299, 9500
Support Levels: 9040, 9000, 8600
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The Dow Jones had another great day as it continues to close above the 10 day moving average. When this changes, I am expecting a nice pullback as investors take profit. Support continues to be 9000 with resistance at today's high of 9299 as well as 9500. The Dow Jones remains overbought but can stay overbought for awhile! What we are seeing right now is the total opposite of what we saw back in March. In March we saw panic selling, now we are seeing panic buying as fund managers must be in this market!! Watch the 10 day moving average.....it usually doesn't lie and gives you tips. For More Technical Analysis - Go Here
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