Below is Technical Analysis for the Dow Jones Industrial Average ( DJIA ). All information is based
on my sole opinion. I use technical analysis to identify where buyers and sellers are likely to exist. These
areas are what I refer to as support and resistance levels. Technical Analysis allows me to form a game plan before
a trading session. It also allows me to indentify the current trend of the overall stock market ( Uptrend or Downtrend
). Most successful investors and traders use technical analysis on a daily basis. While technical analysis can
get really technical, I only use high and low points as well as three moving averages ( 10 day, 50 day, 200 day moving average
). In addition to the moving averages I use for the Dow Jones, I also look at volume. For more on the stock market,
visit my blog - http://daytradingstockblog.blogspot.com
The Dow Jones and Stock Market have been on fire in 2012. In total,
the Dow Jones and S&P 500 have only closed below their 10 day moving averages three times. Will we get a stock market
correction in March 2012? If the Dow Jones doesn't break and close above 13055 in the next, week we could be getting ready
for a pullback. As you can see from the chart, the Dow topped out at 13055.75 on Wednesday and then closed at the low of the
day. A close below 12,900 would be bearish and a close above 13055 would be bullish. Keep an eye in these price levels on
the Dow Jones in the week or two. The first level of support for the Dow Jones would be located around 12,700 followed by
12,530.
