Thursday, June 22, 2006
Daily Market Commentary
Updated Wednesday, 6/21 for Thursday's market
Solid Advance
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Updated Wednesday, 6/21 for Thursday's market
| Key DOW Levels for 6/22 | |
| UP | Above 11,150 |
| DN | Below 10,900 |
Solid Advance
- Dow breaks consolidation to upside, rallies throughout the day.
- The S&P and NASDAQ each got solid upside moves today, which could translate into much bigger moves ahead. Keep an eye on the clear upper trend lines tomorrow, as a break could be huge for direction.
Summary
The Dow ended the day with a late-day decline, but continues to hold above the major upper trend line, which indicates a sense of bullishness not seen in quite a while. If the index can continue to hold above 10,900, continued overall strength should be seen.
- The S&P and NASDAQ each got solid upside moves today, which could translate into much bigger moves ahead. Keep an eye on the clear upper trend lines tomorrow, as a break could be huge for direction.
Summary
The Dow ended the day with a late-day decline, but continues to hold above the major upper trend line, which indicates a sense of bullishness not seen in quite a while. If the index can continue to hold above 10,900, continued overall strength should be seen.
