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Saturday, January 3, 2009

DOW StART YeaR 2009 WitH a BiG BAnG!!!!!

The Dow Jones Industrial closing at 9,034.89 (+2.94%).

The S&P 500 index rose 28.55 points (2.9%) to 931.80.

The Nasdaq composite rose 55.18 points (3.5%) to 1,632.21.

It's a good start of the year, but the volume is very light. I hope to see a sustained advance on higher volume.

Let's look at the next resistant and support level for these 3 indices.

Dow Jones Industrial, new support level at 8,850-8,900 and the next resistant level will be around 9,375-9,425. We might see this level soon, probably before CNY.

Nasdaq Composite, new support level at 1,590-1,600 and the next resistant level will be around 1,750-1,760.

S&P 500, new support level at 910-915 and the next resistant level will be around 1,000-1,005.

HUAT HUAT HUAT ARGH!!!!!!!!!

Steady Bull

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