DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Monday, May 12, 2008
Dow 30 Level of Interest
2008 has been quite a ride for the Dow Jones Industrail Average ($INDU). We opened the year at approx 13,260, saw the Dow move as low as 11,635 in less than a month after the first trading day of 2008, and we're now trading at around 12,750.
The current level of 12,750 in the Dow is a level that interests me. Reason being, the Dow has reacted to this level quite a few times within the past year and a half, or so. When looking at the 2 year chart of the Dow (pictured below), I note a few support touches at this level as well as several resistance touches.
The Dow recently broke through 12,750 as a resistance break. We are now seeing a pull back to the price level, which should act as resistance turned support. I'll be watching 12,750 closely, and suggest you do the same.
If you are interested in participating in any trade suggestions we may send based on this Dow level of interest, then highly consider joining DaytradeTeam's premium membership. To do so, simply call 866-232-9872, ask any questions you have, and request a membership or a trial today!!
Happy Trading,
Nick Fenton
Sr. Trade Analyst
http://www.daytradeteam.com/
The current level of 12,750 in the Dow is a level that interests me. Reason being, the Dow has reacted to this level quite a few times within the past year and a half, or so. When looking at the 2 year chart of the Dow (pictured below), I note a few support touches at this level as well as several resistance touches.
The Dow recently broke through 12,750 as a resistance break. We are now seeing a pull back to the price level, which should act as resistance turned support. I'll be watching 12,750 closely, and suggest you do the same.
If you are interested in participating in any trade suggestions we may send based on this Dow level of interest, then highly consider joining DaytradeTeam's premium membership. To do so, simply call 866-232-9872, ask any questions you have, and request a membership or a trial today!!
Happy Trading,
Nick Fenton
Sr. Trade Analyst
http://www.daytradeteam.com/
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