Tuesday, May 09, 2006
Daily Market Commentary
Updated Monday, 5/8 for Tuesday's market
Rally Above Resistance...
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Updated Monday, 5/8 for Tuesday's market
| Key DOW Levels for 5/9 | |
| UP | Above 11,625 |
| DN | Below 11,525 |
Rally Above Resistance...
- Dow trades sideways at highs, holds firmly above major resistance.
- NASDAQ tried to advance the market today, but wasn't able to muster any support. The NASDAQ and S&P each pulled back from highs and closed the day within a developing consolidation. Look for more of the same tomorrow.
Summary
The Dow closed the day about where it began today after traded quietly sideways throughout the session. We may see another day or two of range movement before the next key move is seen. Watch 11,625 and 11,525 for big movement.
- NASDAQ tried to advance the market today, but wasn't able to muster any support. The NASDAQ and S&P each pulled back from highs and closed the day within a developing consolidation. Look for more of the same tomorrow.
Summary
The Dow closed the day about where it began today after traded quietly sideways throughout the session. We may see another day or two of range movement before the next key move is seen. Watch 11,625 and 11,525 for big movement.
Read More...
