Dow Jones Analysis 12/22/08 - Stock Market

The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/21/08, 12/22/08

Dow Jones Support & Resistance Levels - December 22, 2008

Resistance Levels: 8700, 8935, 9000
Support Levels: 8500, 8300, 8150, 8000

http://stockcharts.com - Chart

The Dow Jones is starting to look weak and has formed a double top at 9000. At this point, a close above 9000 would be huge and could take the Dow up to test the election high of 9653.
Although the Dow Jones has closed below both 10 & 50 day moving averages for the second straight day, I am still bullish on the Dow as long as it closes over 8500 which has been a key support level. A close below 8500 would start a break down and would flash a sell signal in my book. 8300 would be your next level of support as well as 8150. The 8150 level has been virtually bullet proof over the past month so this is where i'd look to buy.

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Nasdaq Analysis 12/22/08 December 22, 2008

The following is Technical Analysis for the Nasdaq ( NAS ) for 12/21/08, 12/22/08

Nasdaq Support & Resistance Levels - December 22, 2008

Resistance Levels: 1590, 1600

Support Levels: 1557, 1535, 1500

http://stockcharts.com - Chart

The Nasdaq continues to hit resistance just below 1600 and sells off back to the 10 day moving average...this has been the trend over the past two weeks. A close over 1600 would be a breakout and the Nasdaq could then test the next resistance of 1675-1700.

Support: The Nasdaq has support at around 1557 and 1535, after that you have key support of 1500. As long as the Nasdaq stays over 1500, I am bullish.

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Dow Jones Close 12/19/08 - Stock Market

Stock Market Closing Prices - 12/19/08

Dow Jones Industrial Average ( DJIA ) Close - 8579.11 Down 25.80
Nasdaq Stock Market Close - 1564.32 Up 11.95
S&P 500 Close - 887.39 Up 2.11
http://dowjonesclose.com

Libor Rates - 12/19/08

1 Month - 0.474%
3 Month - 1.498%

Commodities Closing Prices - 12/19/08

Gold - 839
Oil - 33.87
Natural Gas - 5.33

The Dow Jones Industrial Average closed at 8579 on 12/19/08, as the stock market fell in the final hour again today after going up in the morning on the auto bailout news. The Dow Jones hit a high of 8787 this morning and by the close it tested 8500. Oil traded below $34. Research in Motion ( RIMM ) and Oracle ( ORCL ) both soared after releasing earnings Thursday night. We are still above 8500 on the Dow Jones and 1500 on the Nasdaq so I continue to be bullish. I will have more technical analysis this weekend, Right Here.

Todays Biggest Stock Market Gainers

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Dry Bulk Shipping Rates Report - 12/19/08 DRYS

The following is a report on Dry Bulk Shipping Rates for 12/19/08. 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.

Dry Bulk Shipping Rates - December 19th, 2008

Baltic Dry Index ( BDI ) - 818 Down 11
Baltic Cape Index ( BCI ) - 1423 Down 53
Baltic Panamax Index ( BPI ) - 575 Up 32
Baltic Supramax Index ( BSI ) - 454 Down 10
Past Bulk Shipping Rates

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General Motors GM Ford F Bailout 12/19/08

General Motors ( GM ) and Ford ( F ) and Chrysler LLC have been bailed out today, 12/19/08, and both stocks are higher on the trading session. Below are some of the details of the auto bailout. Ford does not need the cash but they are still a huge part of this bail out program.

• 13.4 Billion Dollar Short Term Financing from TARP
• Must Reverse Debt by 2/3 through Debt to Equity Swap
• No Car Czar
• No New Dividends while Owing Government
• Government will be able to Block Large Transactions
• 4 Billion will come in Feb.
• New Presidential Administration can change Terms of the Deal

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President Bush to Speak 9am 12/19/08 GM F

President bush will make a statement about the Auto Bailout Plan at 9:00am 12/19/08. General Motors ( GM ) and Ford ( F ) are both moving up on this news as well as the stock market futures.

Dow Jones Futures 12/19/08 Stock Market

The Dow Jones and Stock Market Futures are slightly higher this morning, 12/19/08, as we got good earnings out of Oracle ( ORCL ) and Research in Motion ( RIMM ) last evening. The big story today is Oil prices hitting $34 per barrel this morning.

Stock Market Futures - December 19, 2008

Dow Jones Futures - Up 16
Nasdaq Futures - Up 2
S&P 500 Futures Up 1

Today's Biggest Gainers - December 19th, 2008

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1 and 3 Month Libor Rates - 12/19/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/19/08, are: 1 Month Libor Rate - .474% & 3 Month Libor Rate - 1.498%. The overnight Libor rate is .11%. As you can see, Libor Rates have changed today, December 19, 2008. All three Libor Rates went down today.

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

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Dow Jones Analysis 12/19/08 - Stock Market

The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/19/08

Dow Jones Support & Resistance Levels - December 19, 2008

Resistance Levels: 8700, 8935, 9000

Support Levels: 8500, 8300, 8150, 8000

http://stockcharts.com - Chart

The Dow Jones is starting to look toppy here as it failed to break through 9000 again today. As you know, I love the Dow over 8500 and this has been a major support level on a closing basis for the last two weeks. If the Dow Jones closes below 8500 I will be concerned.
Resistance is now at the lower 8700 area where both the 10 day and 50 day moving averages are located. I have a feeling given today's sell off, traders will be selling at the 8700 level. Closing above 8725 would bring you resistance at 8935-9000 again.
Support - 8500 and 8300 must both hold or the Dow will start to roll back over and retest the solid 8150 support level.

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Nasdaq Analysis 12/19/08 December 19, 2008

The following is Technical Analysis for the Nasdaq ( NAS ) for 12/19/08

Nasdaq Support & Resistance Levels - December 19, 2008

Resistance Levels: 1580, 1600
Support Levels: 1535, 1500

http://stockcharts.com - Chart

The Nasdaq failed again today at 1600..hitting a high of 1592 and then selling off late in the day back to the 10 day moving average. 1600 is starting to be a problematic area but as long as we remain above 1500 I am bullish. The Nasdaq has yet to close above the 50 day moving average like the Dow Jones has, and if this would happen it would bring technical buying into the Nasdaq Market. This could put us over the 1600 level. Volatility is dying down going into the end of the year.

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