This early morning the Dow Jones Industrial Average (DJIA) fared badly. The index was down -297.81 points to close at 7,552.60 points. A check on the data suggests that if the Dow Jones breaks the 8,000 points level then it might turn up ugly. With the low recorded this early morning at 7,551.01 points, the DJIA is entering the critical points.
Please refer to the previous article come out on Thursday, January 15, 2009 Dow Jones Technical Speaking - 8,000 Support Must Hold.
The different from the close yesterday compare to the low created on 21.11.2008 at 7,449.38 is just about 100 points. It would be very crucial day for the DJIA tonight. If the index breaks the new low, we might be seeing the second wave or the second round of selling and this might be very bad with DJIA eyeing the 6,000 points level.
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