Wednesday, August 30, 2006
Daily Market Commentary
Updated Tuesday, 8/29 for Wednesday's market
Late-Day Rally
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Updated Tuesday, 8/29 for Wednesday's market
Key DOW Levels for 8/30 | |
UP | Above 11,400 |
DN | Below 11,300 |
Late-Day Rally
- Dow drops throughout session, but gets solid late-day rally back to key resistance. The index is now holding at resistance once again, which we will continue to watch for big movement.
- The NASDAQ and S&P each reversed sharply from the day's lows and powered solidly higher to the Close. Each is now testing key resistance, which could lead to big moves ahead.
Summary
The Dow ended the day back at key resistance after a solid afternoon rally. Watch this resistance level closely tomorrow, as a break or bounce could lead to another big move.
- The NASDAQ and S&P each reversed sharply from the day's lows and powered solidly higher to the Close. Each is now testing key resistance, which could lead to big moves ahead.
Summary
The Dow ended the day back at key resistance after a solid afternoon rally. Watch this resistance level closely tomorrow, as a break or bounce could lead to another big move.
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