A Daily Swing Trade

- Dow tests key support at 11,480, holds to the Close. The attempt to break the key 11,480 support level failed, thus causing the index to basically trade sideways to the Close for a relatively mild 25 point loss.

- The NASDAQ and S&P each sold off today, but held at lows throughout the day above key near-term support levels. Look for more development around these levels until a solid breakout is seen.

Summary

The Dow closed the day quietly, as the index basically traded sideways to the Close above the key 11,480 support level. Look for the index to continue to trade around this fulcrum until a decisive break away from this level is seen.