Wednesday, June 28, 2006
Daily Market Commentary
Updated Tuesday, 6/27 for Wednesday's market
Steady Decline
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Updated Tuesday, 6/27 for Wednesday's market
| Key DOW Levels for 6/28 | |
| UP | Above 11,100 |
| DN | Below 10,900 |
Steady Decline
- Dow sells off from early highs, drops steadily to the Close.
- The S&P and NASDAQ each broke key patterns to the downside en route to steady weakness today. Look for continuation patterns to form ahead of the next key move.
Summary
The Dow closed the day with a steady decline and could be on its way to another sharp sell-off within the overall downtrend. Look for continued overall weakness beneath 11,100, unless this level can be broken and held. Further weakness should be seen beneath 10,900.
- The S&P and NASDAQ each broke key patterns to the downside en route to steady weakness today. Look for continuation patterns to form ahead of the next key move.
Summary
The Dow closed the day with a steady decline and could be on its way to another sharp sell-off within the overall downtrend. Look for continued overall weakness beneath 11,100, unless this level can be broken and held. Further weakness should be seen beneath 10,900.
