Dow Jones Analysis 3/23/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 3/23/09

Dow Jones Support & Resistance Levels - March 23, 2009

Resistance Levels: 7500, 7695, 8000

Support Levels: 7200, 7152, 7000

http://stockcharts.com - Chart

Stock Market Futures

The Dow Jones hit major resistance at the 7500 level and failed to close above this area. The Dow will now be retesting the 10 day moving average next week under 7200. This will be a big test, a close under this level for a few days could set up the Dow to test the 6800-7000 level. If this rally was for real, we will hold 7100 and not break down again. On the upside, I will be getting long on a close above 7500 as a new break out will occur. Next week will be a real test for all the major averages. For More Technical Analysis - Go Here

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Nasdaq Analysis 3/23/09 March 23, 2009

The following is Technical Analysis for the Nasdaq ( IXIC ) for 3/23/09

Nasdaq Support & Resistance Levels - March 23, 2009

Resistance Levels: 1500, 1556, 1600

Support Levels: 1440, 1400, 1364, 1300

http://stockcharts.com/ - Chart

Stock Market Futures

The Nasdaq hit 1500 resistance and is now closed back under the 50 day moving average. This is something to watch because we may be headed back to 1400. Apple could not get above $103.60 resistance and appears to be ready to sell back off as well. If the Nasdaq closes above 1500 at any time, I believe it will head back toward the 1600 level. If the Nasdaq closes below the 10 day moving average, it will probably be headed back into the 1300's. Keep a close eye on this situation. For More Technical Analysis - Go Here

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S&P 500 Analysis 3/23/09 March 23, 2009

The following is technical analysis of the S&P 500 for Monday, March 23, 2009

S&P 500 Support & Resistance Levels - March 23, 2009

Resistance Levels: 780, 800, 804

Support Levels: 750, 741, 700, 667

http://stockcharts.com - Chart

Stock Market Futures

The S&P 500 has topped out at the major resistance level of 800 and now appears ready to go back to the 10 day moving average currently located at 750. The S&P remains in a downward channel and if you would get a close above 800, the S&P would see further upside.
In addition to support at 750, a close below 741 would be really bad for the S&P 500. 741 was the major low that was broken several weeks ago. After making a new low at 666.79, we closed back over 741 and went back to 800. I personally keep an eye on the 10 day moving average as a sign of strength and weakness. Whenever we are over it, investors buy the dips. Whenever we are below the 10 day, investors sell an rally. For More Technical Analysis - Go Here

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Dow Jones Close 3/20/09 - Stock Market Closing Prices

Stock Market Closing Prices - 3/20/09

Dow Jones Industrial Average ( DJIA ) Close - 7278.38 Down 122.42
Nasdaq Stock Market Close - 1457.27 Down 26.21
S&P 500 Close - 768.55 Down 15.49
http://dowjonesclose.com/

Libor Rates - 3/20/09

Commodities Closing Prices - 3/20/09

Gold - 953.30
Oil - 51.55
Natural Gas - 4.24

The Dow Jones Industrial Average closed at 7278 on 3/20/09, as the stock market fell due to profit taking. The Dow Jones Futures started the day down but as 8:00am came, they were up for the morning. Financial stocks were very weak for the second straight day with Citigroup ( C ) finally breaking down hitting $2.40 earlier. Financial Bull ( FAS ) stock tested the 10 day moving average at $4.94 and bounce off.

Key Support and Resistance Levels

S&P 500 - Support 750, 741 - Resistance 780, 800
Nasdaq - Support 1440, 1400, - Resistance 1500
Dow Jones - 7200, 7000 - Resistance 7400, 7500

If 741 on the S&P fails, look out below!

I will have full technical analysis of the stock market this weekend - Right Here

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Biggest Stock Gainers 3/20/09 March 20, 2009

Today, March 20, 2009, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Check out today's biggest gainers and the Top Stocks for 2009. You can find yesterday's Top Gainers Report Right Here

Hot Stocks 3/20/09 - Biggest Gainers Today

VIVUS Inc. (VVUS) - $4.26 Up 19.66% - CNBC reported on this stock this morning - they have a weight loss drug in the pipeline. The company is conducting late stage clinical trials of Qnexa for obesity, and mid stage trials as a type 2 diabetes treatment.

Kirkland's ( KIRK ) - $3.97 Up 14.74% - Kirkland's Net Income Jumps Amid Restructuring Efforts

Financial Bear 3X ( FAZ ) - $34.40 Up 13% - This is the inverse of FAS which is the Financial Bull 3X - FAS is testing the 10 day moving average of $4.94....a close below that and FAZ could really heat up next week.

Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks

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Hot Penny Stocks 3/20/09 March 20, 2009

Today, 3/20/09, there are a few penny stock gainers breaking out to the upside. Be sure to check out the Top 2009 Penny Stock Gainers on the NYSE, Nasdaq, and AMEX. We tend to stay away from OTC and Pink Sheets stocks, especially in this environment! You can find ALL Penny Stock Reports Here

Penny Stock Gainers - March 20, 2009

Office Depot (ODP) - $1.57 Up 15.44% - Analyst: OfficeMax hopes to boost market share

Lear ( LEA ) - $1.50 Up 12.78% - U.S. Offers $5 Billion to Car Suppliers

RAM Energy Resources ( RAME ) - $0.74 Up 12.12% - No News

Edge Petroleum ( EPEX ) - $0.24 Up 60% - No News - Natural Gas has been flying higher

Select Comfort Corporation (SCSS) - $0.49 Up 63.33% - Select Comfort posts wider-than-expected Q4 loss

Other Penny Stock Gainers Today

Entravision Communications (EVC)
HSW International (HSWI)
Noble International (NOBL)
Conseco(CNO)
Sonic Solutions (SNIC)
Parallel Petroleum (PLLL)
Six Flags (SIX)
Dana Holding Corporation (DAN)

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Baltic Dry Index Shipping Rates 3/20/09 BDI

The following is a report on Dry Bulk Shipping Rates for 3/20/09. This data is critical for how the DryBulk Shipping Stocks such as DryShips ( DRYS ), Excel Maritime Carriers ( EXM ), Diana Shipping ( DSX ), Genco Shipping ( GNX ), TBS International ( TBSI ), Navios Maritime ( NM ), and OceanFreight ( OCNF ) will trade during the day. As you probably know, the Dry Bulk Shipping index can tell you a lot about the state of the World Economy. When Bulk Shipping Rates are at all time highs, the World Economy is outstanding. When Bulk Shipping Rates are as low as they have been lately, it signifies that the world economy has come to a screeching halt!
http://dryindex.com/

Dry Bulk Shipping Rates - March 20, 2009 - Down 8 Straight Days

Baltic Dry Index ( BDI ) - 1782 Down 13
Spot 4 - TC Average - 19997 Up 359
Baltic Cape Index ( BCI ) - 2197 Up 43
Baltic Panamax Index ( BPI ) - 1475 Down 33
Supramax Index ( BSI ) - 1541 Down 42
Past Bulk Shipping Rates

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Bank Stocks 3/20/09 March 20, 2009 - Citi

Today, 3/20/09, the bank stocks are mixed after Citigroup has made some management changes. Here are a list of financials and bank stocks that are very active in today's trading session. If you are looking to buy banking stocks, here are some ideas.

Banking Stock Prices - March 20, 2009

Citigroup ( C ) - $2.72 Up 4.62%

American International Group ( AIG ) - $1.47 Down 9.26%

Fannie Mae ( FNM ) - $0.88 Down 9.07%

Freddie Mac ( FRE ) - $0.90 Down 10.26%

HBSC ( HBC ) - $26.29 Down 5.77%

Bank of America ( BAC ) - $6.83 Down 1.44%

Wells Fargo ( WFC ) - $15.09 Down 2.09%

General Electric ( GE ) - $10.05 Down 0.79%

Financial Bull ( FAS ) - $5.75 Up 0.35%

Financial Bear ( FAZ ) - $31.04 Up 2.11%

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Citigroup C News 3/20/09 March 20, 2009

Citigroup ( C ) Stock is up this morning as the company is announcing a new CFO, Ned Kelly.

Citigroup Management Changes - March 20, 2009

Stock Price - $2.66 Up 2.31%

Citi today announced two senior management changes to support the company's business realignment. Gary Crittenden, previously Chief Financial Officer, has been named to the newly created role of Chairman of Citi Holdings, and Edward "Ned" Kelly, previously the Head of Global Banking, will assume the role of Chief Financial Officer at Citigroup. The realignment of Citi into Citicorp and Citi Holdings was announced on January 16.
In this new operational role, Mr. Crittenden will work with Mike Corbat, the interim CEO of Citi Holdings, to optimize the value of the businesses in this unit. Citi Holdings represents a significant portion of the assets of Citigroup.

"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit. "As CFO, Gary successfully managed Citi's re-engineering efforts and reduced expenses during a challenging environment. He is a proven leader with a steady hand and a keen understanding of the complex assets within Citi Holdings. I'm confident Gary will guide and accelerate our efforts to realize the value of Citi Holdings for our shareholders. Ned, who has extensive operational and financial experience, has done an extraordinary job working with our regulators and business partners over the last year and is ideally suited to take the reins from Gary." Full Press Release

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1 and 3 Month Libor Rates - 3/20/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 3/20/09, are: 1 Month Libor Rate - 0.522% & 3 Month Libor Rate - 1.223%. The overnight Libor rate is 0.281%. As you can see, Libor Rates have changed today, March 20th, 2009.

All Three Libor Rates Fell Today!

Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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GM Stock Analysis 3/20/09 March 20 2009

The following is technical analysis for General Motors ( GM ) stock - March 20, 2009

Support: $2.80, $2.40, $2

Resistance: $3.00, $3.50

GM stock is looking fairly good here as it is trending over the 50 day moving average. I am watching for a close over $3 as a sign this rally is not yet over. The market is pricing in another bail out loan and possibly that if things improve it could potentially be the last loan. GM has support around the $2.40 level and $2. A close below these two an GM stock will restest the lows. General Motors needs to stay above the 50 day moving average! For More Technical Analysis - Go Here

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