Dow Jones Analysis 5/18/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 5/18/09

Dow Jones Industrial Average Support & Resistance Levels - May 18, 2009

Resistance Levels: 8410, 8500, 8588, 8742

Support Levels: 8000, 7750

http://stockcharts.com/ - Chart

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The Dow Jones tested the 10 day moving average early in the trading day on Friday but failed again. This is something to keep a close eye on as we may be setting up for a move lower. It is to early to tell yet where the next big move is but the uptrend is still intact from the March lows. A break below 8000 would be very concerning at this point and a retest of 7750 would be in the cards. I will be buying any pullback to the 50 day moving average if it is retested. On the upside, the run to 9000 will begin as soon as we close over 8588. For More Technical Analysis - Go Here

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Citigroup Inc C Stock 5/18/09 May 18, 2009

The following is a little Citigroup Inc. ( C ) stock technical analysis for May 18, 2009

Citigroup Inc (C:NYSE) Support & Resistance Levels - 5/18/09

Resistance Levels: $3.70, $4 , $4.41, $4.48

Support Levels: $3.50, $3.36, $3.00

http://www.stockcharts.com

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Citigroup stock continues to test the $3.50 support level and find resistance at the 10 day moving average currently at $3.62. For a trade, I will either go long when Citi retests the 50 day moving average around $3 or gets back over $4.00. I believe a huge break out will start when Citigroup closes over the $4.48 high from April. I believe a run back to $6 would be in the cards

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FAS FAZ Stock Analysis May 18, 2009 5/18/09

The Direxion Financial Bull 3X Shares (NYSE: FAS) and the Direxion Financial Bear 3X Shares (NYSE: FAZ) ETF's have been very active over the past six months. The following is technical analysis on Financial Bull ( FAS ) for 5/18/09. Knowing the support and resistance levels for FAS will help you trade FAZ.

FAS Support and Resistance Levels - May 18, 2009

Resistance Levels: $ 9.30, $9.50, $10.00, $10.60, $12.53

Support Levels: $8.28, $8.09, $7.30

http://stockcharts.com - Chart

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FAS is trading between both the 10 and 50 day moving averages as it still remains in an uptrend. I am watching Thursday's low of $8.28 and the April 30th low of $8.09. If these do not hold, I think a retest of the 50 day moving average is in store. You can also trade FAZ based on this as well. On the upside, a close back above the 10 day moving average ( $10.08 ) would be bullish! I originally wanted FAS to gap down in pre market big time on Thursday and then rally after the open....this would have been a sign of capitulation selling I wanted to see to get long FAS. This did not play out so I will be looking for this in the future to get long or I will jump in on a close back above the 10 day moving average. For More Technical Analysis - Go Here

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