A Daily Swing Trade

- Dow tcontinues to trade near 10,200 level. The index never established a discernible bias and remained in tight consolidation till the Close. The Dow end today's session with an unremarkable loss of 37 points.

- The NASDAQ and S&P each continue to trade in close proximity to key resistance levels. The manner in which the indexes interact with levels will provided insight in future bias.

Summary

While the Dow failed to remain above 11,200, the overall trading outlook remains the same. We will continue to monitor 10,200 for an early indication of strength or weakness. Strength above would signal a bullish resolution and a return to May highs. Conversely, weakness below 10,200 could trigger a sharp decline back toward June lows.