A Daily Swing Trade

- Dow continues range movement at highs, resumes development of consolidation. The index gained 47 points for the day, but continues to honor the boundaries of the consolidation, which we will continue to watch for further developement.

- The NASDAQ and S&P each reversed from early lows, but ended the day strong today. The tech-heavy index continues to wind up within its consolidation range; while the S&P is testing new highs. Look for continued overall strength above near-term support.

Summary

The Dow ended the day within the boundaries of the developing consolidation. Look for more range behavior as the index gears up for the next key breakout move. A break back below 11,300 will give us an early signal of weakness next week.