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Investing

Using 2001 to 2003 DJIA Lows For Support

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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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:

Image1_2

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

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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