Turning

The weak US dollar that has carried the DJIA to the 10,000 level is now turning up and it could take the DJIA back down to the 9000 level. The key support level to watch for the DJIA is 9250 (see the charts below).





Key support level for the SP500 is 1020 after it breaks the support near 1040.





Nasdaq is getting hit hard in the last couple trading sessions and the key support level for the Nasdaq 100 is around the 1650 area.





If these market indices break the key support level highlighted in this post, this pull back could turn into a reversal. I will not be a buyer on any bounce here.