Will November’s Lows Hold as Support?

Posted: February 18, 2009 at 10:17 am

As today’s market selling has picked up, we wanted to take a snapshot of some of the major November 20, 2008 and November 21, 2008 intra-day and closing lows for the major index levels in the U.S.

This morning we took a snapshot at 10:09 AM EST.  Guess which levels are being tested on the DJIA…  So far, the S&P and NASDAQ are still above those key levels.

DJIA   7,516.92    (-35.68; -0.47%)
DJIA NOV. 20, 2008 intra-day low was 7,464.51 and that was the lowest close at 7,552.29.  The next day the intra-day low was 7,392.27 but the market rallied up to over 8,000.

S&P500      784.62 (-4.55; -0.58%)
S&P500 NOV. 20, 2008 intra-day low was 747.78 and that was the lowest close at 752.44.  The next day the intra-day low was 741.02, but the market rallied up to 800.03.

NASDAQ     1,458.49 (-12.17; -0.83%)
NASDAQ NOV. 20, 2008 intra-day low was 1,314.90    and that was the low close of 1,316.12.  The next day the intra-day low was 1,295.48, but the market rallied to 1,384.35.

Jon C. Ogg
February 18, 2009

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