Monday, May 01, 2006

 
Daily Market Commentary

Updated Friday, 4/28 for Monday's market

Key DOW Levels for 5/1

UP

Above 11,425

DN

Below 11,250


Another Volatile Session

- Dow rallies sharply from early lows, but trades back to lows in volatile session.
- NASDAQ lagged the broader market today, as the Dow and S&P each ran higher early in the session. Eventually, all indexes pushed lower after topping out early in the day, leaving them beneath key upper lines for Monday's market.

Summary

The Dow closed another volatile session lower today, as the index ran into resistance at 11,400 yet again. Look for the index to continue to struggle in this zone ahead of the next key move. Further range movement is likely between 11,250 and 11,425 before decisive movement will be seen.

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