Dow Jones Close 3/23/09 - Stock Market Closing Prices

Stock Market Closing Prices - 3/23/09

Dow Jones Industrial Average ( DJIA ) Close - 7775.86 Up 497.48
Nasdaq Stock Market Close - 1555.77 Up 98.50
S&P 500 Close - 822.92 Up 54.38
http://dowjonesclose.com

Libor Rates - 3/23/09

Commodities Closing Prices - 3/23/09

Gold - 937.80
Oil - 53.83
Natural Gas - 4.32

The Dow Jones Industrial Average closed at 7776 on 3/23/09, as the stock market exploded higher as the Treasury announced a plan to buy toxic assets from bank balance sheets over the weekend. We also received positive housing data at 10am est. The Dow Jones Futures were higher as pre market opened and went even higher as the day went on. The S&P 500 cleared major resistance at 800, the Nasdaq went over 1500 resistance, and the Dow surged over last weeks high to jump into the 7700's. The bank stocks led the charge due to the toxic asset news above. We won't know if this bank news will work until a few months from now, but Wall Street seems to be praising it.

Oil and Natural gas prices continue to rocket after last weeks run. Gold took a breather as investors seem to be taking more risk in the stock market.

Stocks to Note: Apple ( AAPL ) broke above the $103.60 resistance level and appears to be headed back to $110, Google ( GOOG ) closed above $340 and appears to be headed back to $380, Baidu ( BIDU ) hit $187 and could be headed back toward the $200 level.

I continue to find trading opportunities in FAS and FAZ, and I will now get back into FAZ when it breaks back up through $27, an area it was having trouble with today.

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

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FAS - FAZ Stock Analysis March 23, 2009

The Direxion Financial Bull 3X Shares EFT ( FAS ) and the Direxion Financial Bear 3X Shares EFT ( FAZ ) have been very active over the past six months. After hitting a low of $2.32 on March 9, 2009, FAS has recently hit a monthly high of $7.32. This now becomes a major resistance level going forward. A close above $7.32 and you could see gradual move back up to the $10-$11 area. Today's low ( 3/23/09 ) of $5.78 now becomes support going forward. A break below $5.78 on the FAS and I will be jumping back into the FAZ because FAS would most likely go back to test the $5.00 level while FAZ would go back above $30.

Bottom Line.....for FAS stock, watch $7.32 and $5.78 for signs of the next major move. This will help you trade the FAZ stock as it is the inverse of the FAS.

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Biggest Stock Gainers 3/23/09 March 23, 2009

Today, March 23, 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 3/23/09 - Biggest Gainers Today

Lloyds Banking Group plc (LYG)
Financial Bull ( FAS )
Barclays ( BCS )
Rex Energy (REXX)
Barclays (BCS)
Blackstone Group (BX)
NCI Building Supplies ( NCS )
Cox Radio (COX)
Stone Energy (SGY)
XL Capital (XL)
Prudential (PRU)
Sterling Financial (STSA)
FCStone Group (FCSX)
Pyramid Oil (PDO)
Gran Tierra Energy (GTE)
BPZ Resources (BPZ)

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Hot Penny Stocks 3/23/09 March 23, 2009

Today, 3/23/09, 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 23, 2009

Pier 1 Imports Inc. (PIR)
FiberTower Corporation (FTWR)
South Financial Group (TSFG)
Colonial Bancgroup Inc. (CNB)
Pinnacle Gas Resources (PINN)
Beazer Homes (BZH)
Entravision Communications (EVC)
Uranium Resources (URRE)
Frontier Financial (FTBK)
Phoenix Companies (PNX)
Hovnanian Enterprises (HOV)
Freddie Mac (FRE)
Fannie Mae (FMN)
Ambac (ABK)
Champion Enterprises (CHB)
General Growth Properties (GGP)
Charming Shoppes Inc. (CHRS)

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Baltic Dry Index Shipping Rates 3/23/09 BDI

The following is a report on Dry Bulk Shipping Rates for 3/23/09. 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 23, 2009 - Down 9 Straight Days

Baltic Dry Index ( BDI ) - 1773 Down 9
Spot 4 - TC Average - 20197 Up 200
Baltic Cape Index ( BCI ) - 2215 Up 18
Baltic Panamax Index ( BPI ) - 1489 Up 14
Supramax Index ( BSI ) - 1493 Down 48
Past Bulk Shipping Rates

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1 and 3 Month Libor Rates - 3/23/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 3/23/09, are: 1 Month Libor Rate - 0.522% & 3 Month Libor Rate - 1.222%. The overnight Libor rate is 0.289%. As you can see, Libor Rates have changed today, March 23rd, 2009. The 1 Month Libor stayed the same, the 3 Month Libor went down, and the Overnight Libor went up.

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

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Bank Stocks 3/23/09 March 23, 2009 - FNM

Today, 3/23/09, the bank stocks are surging higher after the Government has come out and announced a plan to free up toxic assets on the banks' balance sheets. 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. Keep in mind, these are not real time quotes, I'm just trying to give you an idea of what is moving this morning.

Banking Stock Gainers - March 23, 2009 - Pre Market Trading

Colonial Bancgroup ( CNB ) - Up 53.85%
Lloyds Banking Group ( LYG ) - Up 36.40%
Freddie Mac ( FRE ) - Up 38.36%
General Growth Properties ( GGP ) - Up 27.27%
Fannie Mae ( FNM ) - Up 42.79%
Ambac ( ABK ) - Up 28.57%
Citigroup ( C ) - Up 25.95%
American International Group ( AIG ) - Up 23.81%
ING Groep ( ING ) - Up 21.12%
Bank of America ( BAC ) - Up 19.06%
Barclays ( BCS ) - Up 19.75%
Financial Bull ( FAS ) - Up 20.81%
Ultra Financials ( UYG ) - Up 15.32%
Fifth Thirds Bank ( FITB ) - Up 14.08%
Huntington Bancshares ( HBAN ) - Up 20.45%
Genworth Financial ( GNW ) - Up 13.48%
Wells Fargo ( WFC ) - Up 11.01%
Prudential Financial ( PRU ) - Up 10.25%
Hartford Financial ( HIG ) - Up 12.86%
Morgan Stanley ( MS ) - Up 9.93%
Financial Bear ( FAZ ) - Down 23%

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Wells Fargo WFC Stock 3/23/09 March 23 2009

The following is a Wells Fargo ( WFC ) stock technical analysis for March 23, 2009.

Wells Fargo Support & Resistance Levels - 3/23/09

Resistance Levels: $15.47, $16.25, $17.60

Support Levels: $13.65, $12.70, $10.50

http://stockcharts.com

Wells Fargo stock is right in the middle of two major moving averages that I follow, the 10 and 50 day moving averages. After topping out at $17.60, WFC stock has failed to close over the 50 day moving average for the second straight day. I will continue to watch the 10 day moving average because if WFC can continue to close above this level ( currently at $13.65 ), it will be a bullish signal for things to come. As soon as you have a stock close below both of these two averages, you start to have problems and the downside risk is significant. On the upside, there will be some resistance at $15.47 ( Friday's High ), $16.25, and Thursday's High of 17.60. A close above $17.60 and it is likely $20 will be retested. For More Technical Analysis - Go Here

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BAC Stock Analysis 3/23/09 March 23 2009

The following is a Bank of America ( BAC ) stock technical analysis for March 23, 2009.

Bank of America Support & Resistance Levels - 3/23/09

Resistance Levels: $7.00, $7.50, $8.57

Support Levels: $5.95, $5.00

http://stockcharts.com

Bank of America stock closed above the 50 day moving average for the 3rd straight day and judging by the futures tonight, it should be up big tomorrow. I will be trading BAC stock from the long side when it gets back the $7.00 resistance level. As you can see, the 10 day moving average is getting ready to cross above the 50 day moving average...one of the most bullish signals you can get going forward. This hasn't happened to BAC stock since July 2008. If you are trading B of A, keep a tight stop at $5.95 to avoid another plunge.

For More Technical Analysis - Go Here

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Citigroup C Stock 3/23/09 March 23, 2009

The following is a little Citigroup ( C ) stock technical analysis for March 23, 2009.

Citigroup Support & Resistance Levels - 3/23/09

Resistance Levels: $2.68, $3.00

Support Levels: $2.40, $2.20, $2.00

http://stockcharts.com

Citigroup was rejected last week at the 50 day moving average which is a key technical resistance level. It would have taken something major to get a few closes above this level. A close over $2.68 could get C stock back to the $3.00 where there will be the same resistance. If you are buying Citigroup, i'd keep a tight stop at $2.40, a break below that are could be ugly...a close below $2.40 could get even uglier. I will be getting long when Citigroup closes above $3.89 for a run toward $4.32 and above! Citi appears to be continuing the recent downtrend after getting an oversold bounce. If Citi can get back into the $3's, i'd be interested in owning the stock...until then, to much risk for me! Earnings April 17, 2009

For More Technical Analysis - Go Here

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Dow Jones Futures 3/23/09 Stock Market Futures

How will the stock market open on Monday - March 23, 2009? The Dow Jones and Stock Market Futures are pointing toward a higher open for pre market. Check out technical analysis for March 23rd. Wall Street is waiting news Monday from the Government on a plan top free up toxic assets on the banks balance sheets. Traders will be listening to every word early this week from Timothy Geithner on this plan. We all remember what happened last time!!

Stock Market Futures 3/23/09 - Pre Market Trading - Updated 9:00am EST

Dow Jones Futures - Up 148
S&P 500 Futures - Up 26.10
Nasdaq Futures - Up 21.50
Nikkei 8215 Up 269
Oil Futures - 51.81
Gold Futures - 946.10

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AIG Stock Analysis March 23, 2009 3/23/09

The following is technical analysis on American International Group ( AIG ) stock for March 23, 2009.

AIG Support & Resistance Levels - 3/23/09

Resistance Levels: $2.00, $2.12

Support Levels: $1.06, $1.00

http://stockcharts.com

AIG remains over the 50 day moving average...something that hasn't happened for a long time. AIG has support around the $0.96-$1.00 level, a close below $0.96 would be viewed as bearish and the 10 day moving average would be tested. At this point, I am watching both the 10 and 50 day moving averages closely. If AIG can hold these two moving averages on a closing basis this week, I think we could see another retest of $2.00 soon. I couldn't help but notice the huge buying last week in AIG stock...it wasn't all short covering! A break above $2.00 would be huge and American International Group could rise to the next major resistances at $2.12 and $2.84. I will have more chart updates this week. For More Technical Analysis - Go Here

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Freeport FCX Analysis March 23 2009 3/23/09

The following is technical analysis of Freeport McMoran ( FCX ) stock for 3/23/09.

FCX Support & Resistance Levels - March 23, 2009

Resistance Levels: $42.62, $47.99

Support Levels: $36.39, $30

http://stockcharts.com - Chart

FCX appears to have topped out at $42.62 and is headed back to the 10 day moving average just under $37. Ever since the gap over $30 in early March, FCX has held the 10 day moving average on a closing basis. A close back under the 10 day moving average would be bearish and you would probably see another test of the 50 day moving average. Nonetheless, this is one of the best charts i've seen lately, Copper prices have really been rising. A close over $42.62 will set up another run at the October 2008 high of $47.99. For More Technical Analysis - Go Here

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GE Stock Analysis 3/23/09 March 23, 2009

The following is technical analysis of General Electric ( GE ) stock for March 23, 2009.

GE Support & Resistance Levels - March 23, 2009

Resistance Levels: $10.79, $11.35

Support Levels: $9.32, $9.00, $8.00, $6.65

http://stockcharts.com - Chart

GE Stock failed at the 50 day moving average, a key level stock market technicians use to gauge strength and weakness in a stock. General Electric is now testing the 10 day moving average and so far it has held. In the short term, it is very important that GE holds the $9 level or it will face going back to the next major support level of $8. I'd like to see GE trend higher from here along with the 10 day moving average. This would show me that every day there is some nice buying going on in the stock. On the upside, a break through $11.35 is what I want to see before I buy again. It's going to take a lot to break out of this current downtrend....GE stock is not going anywhere fast after this recent bounce. You may even see a retest of under $6...if that level holds, GE will be a screaming buy once again! For More Technical Analysis - Go Here

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Stocks to Buy March 23, 2009 3/23/09

Friday, during regular trading hours, there were many stocks that continued to break out to the upside even as the stock market fell. Below is a list of stocks that are worth watching for Monday, March 23, 2009. Also, check out the Biggest Stock Gainers of the Day. You can also find previous stocks to buy reports - Right Here

Stocks to Watch - 3/23/09 - Stock Market Ideas

Financial Bear ( FAZ ) - FAZ was strong all day, just look at the 1 day chart! Money was flowing out of the financials which caused Financial Bull ( FAS ) stock to retrace. FAZ is the only stock I own right now and it was inching up in after market trading as news came out of the seizure of two big credit unions. The fact that all major averages closed weak on Friday point to a lower opening for Monday. On FAZ stock, I have a tight stop at $31 and will most likely switch back into FAS. Keep in mind, these are trading stocks....not so much buy and hold!

Pier 1 Imports ( PIR ) - $.30 Up 87.50% - PIR released earnings in after hours on Friday - Pier 1 could shut 80 stores as it posts losses.

Citigroup ( C ) - Should you buy Citigroup stock? If you are thinking about buying Citi on Monday, use a tight stop at $2.40. $2.40 was the low on Friday and is also a major support level. If $2.40 is broken things could get ugly! On the upside, if $2.82 is broken, C stock could be on the way back to $3.00

American International Group ( AIG ) - Do you buy AIG stock? - Personally, I wouldn't, there are much better stocks out there such as energy related stocks like EOG Resources ( EOG ), Chesapeake Energy ( CHK ), or Transocean ( RIG ). Natural Gas finally looks like it has bottomed so you might look at UNG stock. If you really want to buy AIG, use a tight stop at $1.20 or Friday's low of $1.06. On the upside, if $1.45 is broken ( Friday's High ) AIG could get a bounce.

Fannie Mae ( FNM ) & Freddie Mac ( FRE ) - FNM stock has support between $0.55 & $0.60, so if you really must buy FNM, I'd wait for this price. However, a break below $0.50 could get ugly! On FRE stock, it is the same game plan because both FRE and FNM have identical charts. Just remember, FRE and FNM are penny stocks for a reason!

Friday's Top Hot Stocks worth Watching

On Friday, the following stocks really broke out to the upside. If the stocks market is up on Monday, these companies could have further upside: Source Interlink Companies (SORC), Edge Petroleum (EPEX), Entravision Communications ( EVC ), Air Transport Services Group, Inc. (ATSG), FelCor Lodging Trust (FCH), Newcastle Investment (NCT), Bowne & Co (BNE), RAIT Financial Trust (RAS), Noble International (NOBL), Celera Corporation (CRA), USEC (USU), Pacific Ethanol (PEIX), UltraShort Real Estate ProShares (SRS), Dynegy (DYN).

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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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