Friday, July 07, 2006
Daily Market Commentary
Updated Thursday, 7/6 for Friday's market
Consolidating...
Read More...
Updated Thursday, 7/6 for Friday's market
| Key DOW Levels for 7/7 | |
| UP | Above 11,300 |
| DN | Below 11,100 |
Consolidating...
- Dow rallies within consolidation range, continues to build out ahead of breakout.
- The S&P and NASDAQ each had mixed reactions compared to the Dow today, as the NADSAQ closed flat, while the S&P took a small gain. Each continues to hold within their respective consolidations, which we will continue to watch closely.
Summary
The Dow closed the day with a solid gain today, but continues to hold within the boundaries of the large consolidation range, which we will continue to watch tomorrow. A breakout through 11,260 or 11,100 could spark a nice medium term move. However, look for continued range movement before such a breakout is seen.
- The S&P and NASDAQ each had mixed reactions compared to the Dow today, as the NADSAQ closed flat, while the S&P took a small gain. Each continues to hold within their respective consolidations, which we will continue to watch closely.
Summary
The Dow closed the day with a solid gain today, but continues to hold within the boundaries of the large consolidation range, which we will continue to watch tomorrow. A breakout through 11,260 or 11,100 could spark a nice medium term move. However, look for continued range movement before such a breakout is seen.
