Wednesday, June 07, 2006
Daily Market Commentary
Updated Tuesday, 6/6 for Wednesd's market
Range Forming
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Updated Tuesday, 6/6 for Wednesd's market
| Key DOW Levels for 6/7 | |
| UP | Above 11,200 |
| DN | Below 10,900 |
Range Forming
- Dow pushes lower, forms consolidation at lows.
- The S&P and NASDAQ each closed the day lower, but rose nicely from the lows of the session to recoup much of the day's losses. The indexes are currently building out at the lows within the boundaries of clear consolidations, which we will watch for movement.
Summary
Dow closed the day with another decline and is now building out a potential consolidation at the lows. Look for the index to build out at the lows ahead of the next key decline. Watch 10,900 closely.
- The S&P and NASDAQ each closed the day lower, but rose nicely from the lows of the session to recoup much of the day's losses. The indexes are currently building out at the lows within the boundaries of clear consolidations, which we will watch for movement.
Summary
Dow closed the day with another decline and is now building out a potential consolidation at the lows. Look for the index to build out at the lows ahead of the next key decline. Watch 10,900 closely.
