Monday, August 28, 2006
Daily Market Commentary
Updated Friday, 8/25 for Monday's market
Still Hollding...
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Updated Friday, 8/25 for Monday's market
Key DOW Levels for 8/28 | |
UP | Above 11,325 |
DN | Below 11,250 |
Still Hollding...
- Dow strades sideways yet again, holds within tight range around 11,300 level. The index closed the day quietly with a 20 point loss, but should get more movement next week.
- The NASDAQ and S&P each continue to trade slowly and steadily sideways. Look for a confirmed breakout opportunity for direction Monday.
Summary
The Dow closed the day quietly today, and continues to hold within the boundaries of a tight range just above key support at 11,250. If the Dow can remain above 11,250, the index will have a solid shot at continued overall strength. Otherwise, a break through support could spark big selling.
- The NASDAQ and S&P each continue to trade slowly and steadily sideways. Look for a confirmed breakout opportunity for direction Monday.
Summary
The Dow closed the day quietly today, and continues to hold within the boundaries of a tight range just above key support at 11,250. If the Dow can remain above 11,250, the index will have a solid shot at continued overall strength. Otherwise, a break through support could spark big selling.
Read More...