Monday, July 10, 2006
Daily Market Commentary
Updated Friday, 7/7 for Monday's market
Steady Sell-Off
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Updated Friday, 7/7 for Monday's market
| Key DOW Levels for 7/10 | |
| UP | Above 11,200 |
| DN | Below 11,000 |
Steady Sell-Off
- Dow breaks back below 11,200, drops steadily to the Close.
- The S&P and NASDAQ each sold off late in the day after beginning the session in weak fashion. The S&P is testing key support levels; while the NASDAQ has yet to develop a serviceable pattern. Watch support in the S&P for directional clues Monday.
Summary
The Dow closed the day near the lows of the session after getting an early break through 11,200. The index looks fairly weak in the near term, but could hold above 11,000 support. Look for the index to remain within the current overall uptrend that has lasted since June.
- The S&P and NASDAQ each sold off late in the day after beginning the session in weak fashion. The S&P is testing key support levels; while the NASDAQ has yet to develop a serviceable pattern. Watch support in the S&P for directional clues Monday.
Summary
The Dow closed the day near the lows of the session after getting an early break through 11,200. The index looks fairly weak in the near term, but could hold above 11,000 support. Look for the index to remain within the current overall uptrend that has lasted since June.
