A Daily Swing Trade

- Dow holds beneath major resistance, forms lower trend line to watch as well.
- NASDAQ tested support today, but held lows as the S&P reversed from support. Look to the NASDAQ for broader market direction upon a break or bounce at support.

Summary

The Dow closed the day slightly lower after trading sideways at the highs beneath key resistance. Look for the index to continue winding up between 11,360 and 11,425 before a big breakout occurs. Such a break should yield key movement.