As the DJIA is now closer to breaking down under the mental 9,000 barrier, we wanted to run some old support levels to illustrate where the market used support in the past. We compiled data for intra-day lows to show what the absolute support was and where the DJIA closed at each month. Hopefully the markets won’t trade down through that key mental barrier, but he have been receiving requests for some guidance as to what levels held up when the DJIA broke down under those levels.
In the most simple form of technical analysis, these pivot points can become the new theoretical resistance levels. You will see these levels in the chart and table below.
Below you will see a chart to illustrate it and thereafter you will see a table outlining those lows:
MONTH LOW CLOSE
Nov. 2003 9,738.53 9,809.79
Oct. 2003 9,275.06 9,801.12
Sep. 2003 9,199.43 9,275.06
Aug. 2003 8,964.13 9,415.82
Jul. 2003 8,843.61 9,233.80
Jun. 2003 8,823.51 8,985.44
May 2003 8,328.55 8,850.26
Apr. 2003 7,947.38 8,480.09
Mar. 2003 7,397.31 7,992.13
Feb. 2003 7,602.81 7,891.08
Jan. 2003 7,884.66 8,053.81
Dec. 2002 8,214.93 8,341.63
Nov. 2002 8,237.65 8,896.09
Oct. 2002 7,181.47 8,397.03
Sep. 2002 7,422.28 7,591.93
Aug. 2002 7,991.43 8,663.50
Jul. 2002 7,489.53 8,736.59
Jun. 2002 8,831.92 9,243.26
May 2002 9,749.73 9,925.25
Apr. 2002 9,767.15 9,946.22
Mar. 2002 10,086.51 10,403.94
Feb. 2002 9,503.52 10,106.13
Jan. 2002 9,443.32 9,920.00
Dec. 2001 9,651.87 10,021.57
Nov. 2001 8,987.61 9,851.56
Oct. 2001 8,659.90 9,075.14
Sep. 2001 7,926.93 8,847.56
Aug. 2001 9,829.35 9,949.75
Jul. 2001 10,049.38 10,522.81
Jun. 2001 10,313.40 10,502.40
May 2001 10,638.48 10,911.94
Apr. 2001 9,303.48 10,734.97
Mar. 2001 9,047.56 9,878.78
Feb. 2001 10,225.14 10,495.28
Jan. 2001 10,325.71 10,887.36
Dec. 2000 10,158.16 10,787.99
Jon Ogg
October 9, 2008
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
