Thursday, July 27, 2006

 
Daily Market Commentary

Updated Wednesday, 7/26 for Thursday's
market

Key DOW Levels for 7/27

UP

Above 11,175

DN

Below 11,025


Steady Advance

- Dow pushes slowly higher from early lows, tests key 11,150 level. The index smacked into the key 11,150 resistance level and dropped to the close for a 1 point loss. Watch 11,150 closely for key direction..

- The NASDAQ and S&Peach rallied from early lows to test resistance today, but failed to break out. Watch resistance tomorrow for a break or bounce.

Summary

The Dow ended the day basically flat after testing critical resistance at 11,150 today, but could get another crack at this level tomorrow. Watch 11,175 for a potential breakout and 11,025 for early signs of key weakness.

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