Monday, June 12, 2006
Daily Market Commentary
Updated Friday, 6/9 for Monday's market
Winding Up..
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Updated Friday, 6/9 for Monday's market
| Key DOW Levels for 6/12 | |
| UP | Above 10,950 |
| DN | Below 10,850 |
Winding Up..
- Dow trades back and forth throughout session, winds up within potent pattern.
- The S&P and NASDAQ each sold off from early strength today to close the day lower. Each index has formed clear triangle that is highly coiled and could provide big movement next week.
Summary
The Dow closed the day within the boundaries of a tightly-wound triangle range, which could provide a big wave of movement early next week. Watch this pattern closely for a breakout Monday; 10,950 up and 10,850 down.
- The S&P and NASDAQ each sold off from early strength today to close the day lower. Each index has formed clear triangle that is highly coiled and could provide big movement next week.
Summary
The Dow closed the day within the boundaries of a tightly-wound triangle range, which could provide a big wave of movement early next week. Watch this pattern closely for a breakout Monday; 10,950 up and 10,850 down.
