Wednesday, August 09, 2006
Daily Market Commentary
Updated Tuesday, 8/8 for Wednesday's market
Late-Day Decline
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Updated Tuesday, 8/8 for Wednesday's market
Key DOW Levels for 8/9 | |
UP | Above 11,300 |
DN | Below 11,125 |
Late-Day Decline
- Dow trades quietly throughout session, but gets late-day sell-off to the Close. The index broke through 11,200 and eventually pushed down to the Close for a 46 point loss.
- The NASDAQ and S&P each reversed from late-day highs en route to steady weakness to the Close. Each index continues to hold above clear support, which will be our focus tomorrow.
Summary
The Dow closed the day sharply lower from the highs of the day after another failed attempt at 11,300 sent the index tumbling. The index is now holding above key support at 11,085, which we will watch for the next big medium term move.
- The NASDAQ and S&P each reversed from late-day highs en route to steady weakness to the Close. Each index continues to hold above clear support, which will be our focus tomorrow.
Summary
The Dow closed the day sharply lower from the highs of the day after another failed attempt at 11,300 sent the index tumbling. The index is now holding above key support at 11,085, which we will watch for the next big medium term move.
Read More...