Monday, May 22, 2006

 
Daily Market Commentary

Updated
Friday, 5/19 for Monday's market

Key DOW Levels for 5/22

UP

Above 11,200

DN

Below 11,070


Winding Up..

- Dow trades back and forth at lows, winds up within clear triangle.
- NASDAQ and S&P traded sideways for much of the session today and are now forming key triangle consolidations. Watch these patterns for key medium term direction.

Summary

The Dow closed the day within the boundaries of a coiling triangle consolidation. This triangle is the next pattern that will spark big movement in this index and possibly to the upside. Watch it closely.

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