Wednesday, August 30, 2006

 
Daily Market Commentary

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.

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