Tuesday, May 16, 2006
Daily Market Commentary
Updated Monday, 5/15 for Tuesday's market
Late-Day Strength
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Updated Monday, 5/15 for Tuesday's market
| Key DOW Levels for 5/16 | |
| UP | Current Trend |
| DN | Below 11,325 |
Late-Day Strength
- Dow holds above 11,300, gets sharp upside reversal to the Close.
- NASDAQ and S&P each rallied late in the day to close the session with strength. Look for continued development of a potential continuation pattern tomorrow.
Summary
Today's late-day reaction rally pushed the index to the highs of the session. Look for the index to continue to build out at the lows of the overall decline as the next key move develops. A breakout from 11,330 and 11,460 should make for nice movement.
- NASDAQ and S&P each rallied late in the day to close the session with strength. Look for continued development of a potential continuation pattern tomorrow.
Summary
Today's late-day reaction rally pushed the index to the highs of the session. Look for the index to continue to build out at the lows of the overall decline as the next key move develops. A breakout from 11,330 and 11,460 should make for nice movement.
