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IBDvalueinvestin (98.32)

11,000 DJIA is the new support level



November 23, 2010 – Comments (2)

Just like 10,000 was the support level during the spring and summer.

This Fall and winter the support level is 11,000 on the DJIA.

The 11,000 level was already tested once in November and and the market snapped up with a nearly 200 point gain after the first test.

Today's action is test #2 of the 11,000 DJIA support.

2 Comments – Post Your Own

#1) On November 23, 2010 at 11:29 AM, RyanCoke (99.52) wrote:

The market will crash through 11,000 like Oprah on a styrofoam floor.

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#2) On November 23, 2010 at 11:33 AM, IBDvalueinvestin (98.32) wrote:

Lol, yes it may break 11,000 for a few hours but that is support, and as I write this it just broke 11,000.

Time to either start covering the 3 day shorts now or start adding to positions of some of your stocks that have gotten hammered today or in the last 3 trading days.

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