Monday, June 05, 2006
Daily Market Commentary
Updated Friday, 6/2 for Monday's market
Consolidation
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Updated Friday, 6/2 for Monday's market
| Key DOW Levels for 6/2 | |
| UP | Above 11,300 |
| DN | Below 11,080 |
Consolidation
- The Dow maintains tight consolidation range.
- The S&P and NASDAQ both established short-term consolidation ranges. As these consolidation ranges have been established above violated resistance levels, we should be prepared for the possibility of a bullish continuation early in next week's trading.
Summary
For Monday’s session, we will focus on 11,200 and 11,300. A decisive break outside these boundaries will likely indicate the next directional bias. However, if neither of the boundaries are violated, we could witness a brief period of range bound trading characterized by reversals near noted support and resistance levels.
- The S&P and NASDAQ both established short-term consolidation ranges. As these consolidation ranges have been established above violated resistance levels, we should be prepared for the possibility of a bullish continuation early in next week's trading.
Summary
For Monday’s session, we will focus on 11,200 and 11,300. A decisive break outside these boundaries will likely indicate the next directional bias. However, if neither of the boundaries are violated, we could witness a brief period of range bound trading characterized by reversals near noted support and resistance levels.
