A Daily Swing Trade

- Dow trades quietly throughout session, holds above 11,200 level. The index closed the day with a relatively mild 21 point decline, but could be gearing up for a much steeper sell-off ahead.

- The NASDAQ and S&P each traded quietly sideways today, forming small consolidations at the lows. A breakout from these ranges could spark nice movement tomorrow.

Summary

The Dow closed the day with a mild loss today, but continues to hold within the boundaries of a tight consolidation above key near-term support at 11,200. A big downside break through 11,200 could spark big selling pressure. Otherwise, look for continued sideways-to-up movement in the near-term ahead of a decisive breakout.