Tuesday, July 11, 2006
Daily Market Commentary
Updated Monday, 7/10 for Tuesday's market
Pop and Drop
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Updated Monday, 7/10 for Tuesday's market
| Key DOW Levels for 7/11 | |
| UP | Above 11,200 |
| DN | Below 11,050 |
Pop and Drop
- Dow rallies at Open, but sells off steadily to the Close.
- The NASDAQ led the broader market lower today, as it pushed steadily down throughout the session. The S&P and NASDAQ have now reached major lower levels that could greatly influence medium term direction.
Summary
The Dow ended the day at the lows of the session after reversing sharply from early highs. The index still managed to close the day with a gain, but is approaching a key lower level at 11,050 that could turn the tide to bearish. Watch this fulcrum closely tomorrow.
- The NASDAQ led the broader market lower today, as it pushed steadily down throughout the session. The S&P and NASDAQ have now reached major lower levels that could greatly influence medium term direction.
Summary
The Dow ended the day at the lows of the session after reversing sharply from early highs. The index still managed to close the day with a gain, but is approaching a key lower level at 11,050 that could turn the tide to bearish. Watch this fulcrum closely tomorrow.
