Friday, June 02, 2006
Daily Market Commentary
Updated Thursday, 6/1 for Friday's market
Steady Uptrend
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Updated Thursday, 6/1 for Friday's market
| Key DOW Levels for 6/2 | |
| UP | Above 11,300 |
| DN | Below 11,080 |
Steady Uptrend
- Dow penetrates the above upper boundary of the narrowing consolidation pattern.
- The S&P and NASDAQ both maintained a strong bullish uptrend throughout today’s session. In the process, both indexes have broken outside boundaries of recent consolidation and appear to have established a bullish bias in the near term.
Summary
For Thursday’s session, we will focus on 11,220 and 11,300 for an early indication of directional bias. However, considering the magnitude of today's advances, we may see a period of consolidation as the index prepares for its next decisive advance or decline.
- The S&P and NASDAQ both maintained a strong bullish uptrend throughout today’s session. In the process, both indexes have broken outside boundaries of recent consolidation and appear to have established a bullish bias in the near term.
Summary
For Thursday’s session, we will focus on 11,220 and 11,300 for an early indication of directional bias. However, considering the magnitude of today's advances, we may see a period of consolidation as the index prepares for its next decisive advance or decline.
