Thursday, July 13, 2006
Daily Market Commentary
Updated Wednesday, 7/12 for Thursday's market
Steady Sell-Off
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Updated Wednesday, 7/12 for Thursday's market
| Key DOW Levels for 7/13 | |
| UP | Above 11,150 |
| DN | Below 10,975 |
Steady Sell-Off
- Dow sells off quickly, steadily to the Close. The index closed the day at the lows of the session with a 122 point loss and has now broken the major lower trend line at 11,050, which could add to selling to close out the week.
- The NASDAQ and S&P each sold off steadily today, but the tech-heavy index definitely led the way. Each index is finding new lows, which could breed more selling.
Summary
The Dow ended the day with a big loss after dropping from yesterday's highs throughout the session. The index is now beginning to violate a clear lower trend line that could make for big weakness ahead. Watch 11,150 for the earliest signs of potentially lasting strength.
- The NASDAQ and S&P each sold off steadily today, but the tech-heavy index definitely led the way. Each index is finding new lows, which could breed more selling.
Summary
The Dow ended the day with a big loss after dropping from yesterday's highs throughout the session. The index is now beginning to violate a clear lower trend line that could make for big weakness ahead. Watch 11,150 for the earliest signs of potentially lasting strength.
