KirkLindstrom.com - Articles - 2013 - Watch the Red Lines: Dow, NASDAQ & S&P500 Resistance and Support
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                Windsurfing at Palo Alto in SF Bay in May 2009  Dow & S&P500 Resistance and Support Levels
 
Resistance and Support levels for the DOW - Linear Scale
Kirk
                Windsurfing at Coyote Point November 2009
Charts and price quotes for DJIA and DIA
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December 15, 2013:   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.   The ETF for the NASDAQ is the 100 stock QQQ (for the Nasdaq 100) but  I like my Newsletter Explore portfolio far better than the QQQ because the QQQ index adds stocks when up and drops them when low while I do the opposite with my newsletter portfolio.
Chart 1
 Chart of DOW to Gold Ratio 
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Notes: My Observations for the Dow, S&P500 and NASDAQ
  • In October the Dow ($INDU in my two charts) corrected to its 200-DMA than in November it surged to a record high above a dashed green resistance-turned-support line to the dashed-red resistance line.  From this high, the Dow corrected to where it is now testing the dashed green resistance-turned-support line from above.
  • The S&P500 ($SPX in the graphs) is also testing resistance turned support from above.    Ten days ago I wrote:
    • "That line would be the first level of strong support if there is any further market weakness."
  • The NASDAQ briefly tested its 20-year support-turned-resistance-back-to-support line from above in October and remains very strong with a very small pullback relative to the Dow & S&P500..
Chart of DOW to Gold Ratio

Intraday Charts

DOW JONES INDU ^DJI - More charts
S&P 500 - More charts


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note 1.  Source:  charts from stockcharts.com
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Disclaimer:  The information contained in this web site is not intended to constitute financial advice, and is not a recommendation or solicitation to buy, sell or hold any security. This blog is strictly informational and educational and is not to be construed as any kind of financial advice, investment advice or legal advice. Copyright © 2013 Kirk Lindstrom. Note: "CORE & Explore®" was coined by and is a registered trademark of Charles Schwab & Co., Inc.