Friday, August 25, 2006
Daily Market Commentary
Updated Thursday, 8/24 for Friday's market
Hovering at 11,300
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Updated Thursday, 8/24 for Friday's market
| Key DOW Levels for 8/25 | |
| UP | Above 11,400 |
| DN | Below 11,250 |
Hovering at 11,300
- Dow struggles in 11,300 zone, continues to wind up ahead of potential breakout. The index continues to hold above the near-term 11,250 support level, which we will continue to watch intently for continued weakness.
- The NASDAQ and S&P each traded back and forth throughout the session and have widened their respective consolidation ranges. Watch for a breakout from these ranges for key movement.
Summary
The Dow closed the day within the boundaries of a very narrow range precisely at the 11,300 fulcrum. The index continues to hold within a larger range, but a breakout from this range could lead to movement. Watch 11,400 and 11,250 tomorrow.
- The NASDAQ and S&P each traded back and forth throughout the session and have widened their respective consolidation ranges. Watch for a breakout from these ranges for key movement.
Summary
The Dow closed the day within the boundaries of a very narrow range precisely at the 11,300 fulcrum. The index continues to hold within a larger range, but a breakout from this range could lead to movement. Watch 11,400 and 11,250 tomorrow.
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