Thursday, April 27, 2006
Daily Market Commentary
Updated Wednesday, 4/26 for Thursday's market
Upside Reversal
Updated Wednesday, 4/26 for Thursday's market
| Key DOW Levels for 4/27 | |
| UP | Above 11,425 |
| DN | Below 11,250 |
Upside Reversal
- Dow breaks back above 10,300, holds at highs of session.
- NASDAQ continues to build out within the boundaries of a clear consolidation; while the S&P gained ground on the day. A clean breakout from the NASDAQ triangle could influence broader market movement.
Summary
The Dow closed the day with a nice gain after opening the session sharply higher. The index continues to hold within the boundaries of 11,250 and 11,400, which we will continue to watch for big movement. Continued overall strength should be seen as long as 11,250 remains in tact.
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- NASDAQ continues to build out within the boundaries of a clear consolidation; while the S&P gained ground on the day. A clean breakout from the NASDAQ triangle could influence broader market movement.
Summary
The Dow closed the day with a nice gain after opening the session sharply higher. The index continues to hold within the boundaries of 11,250 and 11,400, which we will continue to watch for big movement. Continued overall strength should be seen as long as 11,250 remains in tact.
Read More...
