Monday, May 22, 2006
Daily Market Commentary
Updated Friday, 5/19 for Monday's market
Winding Up..
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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.
- 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.
