Comments on: Dow Jones Industrial Average ($DJI) Chart - May 2, 2008

By: Dow Jones (DJIA) Chart - May 9, 2008

Dow Jones (DJIA) Chart - May 9, 2008 — Sat, 10 May 2008 19:37:35 +0000

[…] I am recharting the DJIA ($DJI) this week using a slighty different angle for the upward trending line of higher highs. I’m doing this for two reasons. One is to show that picking the exact points on a chart can change the story if you are a little bit off and the other is to show that the DJIA is still above the trend line of higher lows I drew last week. Last week I mentioned some potential factors that could weigh down the markets. Oil proved to be one this week along with AIG as the other. […]

By: Kadena

Kadena — Mon, 05 May 2008 02:08:42 +0000

I remember when last year started going bearish, nobody could believe it for awhile. Now that things start looking bullish, how long before we believe? Of course, anything’s possible. So 15000 or 11000 are both possible. Man, i need a crystal ball. Nah, really, if i believe the trader almanac from the library, years ending in 8’s are good on average, and we should go up the rest of this year. Gosh, i just want to start daytrading and reporting my percentages here real soon. Anyway, another excellent chart, thank you

By: Alex Fotopoulos

Alex Fotopoulos — Sun, 04 May 2008 22:50:39 +0000

13k was the previous low a couple of times and then acted as a ceiling more than a week ago again. I agree 12,700 could be support now, especially when the upward trend of higher lows meets it along the way. That could actually be right where the downward trendline line was aiming from previous highs last fall. I didn’t mention it, but I would expect that line to be support also.

By: Jeremy Spring

Jeremy Spring — Sun, 04 May 2008 17:19:39 +0000

I don’t see resistance at 13k, but I see a strong resistance line (which is now a support line) at about 12,700.