Saturday, June 24, 2006
Daily Market Commentary
Updated Thursday, 6/22 for Friday's market
Steady Decline
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Updated Thursday, 6/22 for Friday's market
| Key DOW Levels for 6/23 | |
| UP | Above 11,150 |
| DN | Below 10,975 |
Steady Decline
- Dow pulls back from recent highs, holds at 11,000 zone.
- The S&P and NASDAQ each sold off early in the day and are now holding at lows above key lower trend lines. Key in on these lines, as they could provide nice movement tomorrow.
Summary
The Dow closed the day with a slow decline today, but continues to hold above the key 10,900 support level, which is the clear fulcrum in the charts at this point. Look for continued overall strength above this zone tomorrow; unless a solid break takes it out.
- The S&P and NASDAQ each sold off early in the day and are now holding at lows above key lower trend lines. Key in on these lines, as they could provide nice movement tomorrow.
Summary
The Dow closed the day with a slow decline today, but continues to hold above the key 10,900 support level, which is the clear fulcrum in the charts at this point. Look for continued overall strength above this zone tomorrow; unless a solid break takes it out.
