Most traders have never heard of the 400 day moving average. It's one of my favorites, as it is the same as a monthly 20 moving average, on a monthly chart. The chart above shows the Dow kept testing the 400 dma(brown line) last month. Now it looks like were going to get a correction off the head and shoulders top. 9450 is the next major support area. The new monthly S1 pivot is at 9331 and the monthly R1 is at 9996.
