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  • Michael Lee
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  • DJIA . Dow Jones Industrial Average . Exchange-traded fund . Level . May . October 2008 . S&P 500 . Support and resistance .

Since the election, all major indexes have turned sharply downward on the back of unresolved "fiscal cliff" issues. The S&P 500 and the Dow Jones Industrial Average are now approaching areas of significant support, leaving many investors on edge. The S&P 500 is trading near support around 1,300. It was a fall through this support level that ignited the further crash in October, 2008. Since that crash, the S&P 500 managed to climb back to this significant 1,300 level in…

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