Don't Miss Out On Great Gains! - Best Investment Newsletter

Click for FREE sample of Kirk Lindstrom's Investment Letter

Don't miss out! Subscribe Now

Search For More

Tuesday, October 29, 2013

Watch the Red Lines - Market Resistance & Support Graphs

Resistance and Support Levels for the Dow & S&P500 

The exchange traded funds (ETF) for the Dow and S&P500 are DIA and SPY, respectively. 

My chart below shows the Dow and S&P500 as indexes and the ETFs with dividends reinvested.  

  • DIA, with dividends reinvested, seems to be forming a base after testing support from above.
  • The S&P500, $SPX in the graph, is above resistance turned support.  That line would be the first level of strong support if there is any further market weakness.
  • The NASDAQ is above a 19-year support-turned-resistance-back-to-support line that was resistance for 11 years.  Below is a blow-up of the NASDAQ graph.
Check out these results:
"Newsletter Explore Portfolio"
and get the October 2013 Issue for FREE!!

No comments:

Post a Comment

Followers - Click "follow" to get an email alert for new articles

Kirk Lindstrom's Investment Letter Performance