Wednesday, July 19, 2006
Daily Market Commentary
Updated Tuesday, 7/18 for Wednesday's market
10,700 Holds
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Updated Tuesday, 7/18 for Wednesday's market
| Key DOW Levels for 7/19 | |
| UP | Above 11,000 |
| DN | Below 10,675 |
10,700 Holds
- Dow bounces at 10,700, rallies to the Close. The index struggled in this zone briefly and then got a solid 120 point reversal from the lows to end the day with a nice 52 point gain.
- The S&P and NASDAQ each reversed from key lows today and are now winding up within expanding consolidations. Watch these ranges for key direction tomorrow.
Summary
The Dow closed the day within the boundaries of a clear consolidation that has formed at the lows above major support at 10,700. Watch this range closely for a solid breakout move tomorrow.
- The S&P and NASDAQ each reversed from key lows today and are now winding up within expanding consolidations. Watch these ranges for key direction tomorrow.
Summary
The Dow closed the day within the boundaries of a clear consolidation that has formed at the lows above major support at 10,700. Watch this range closely for a solid breakout move tomorrow.
