Tuesday, September 12, 2006
Daily Market Commentary
Updated Monday, 9/11 for Tuesday's market
Winding Up
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Updated Monday, 9/11 for Tuesday's market
| Key DOW Levels for 9/12 | |
| UP | Above 11,425 |
| DN | Below 11,340 |
Winding Up
- Dow reverses from early lows to develop large triangle range. The index came close to getting a solid breakout at 11,425, but reversed from the day's highs to complete a large triangle range that we will watch for key medium term direction.
- The NASDAQ and S&P each reversed from early lows today to recover gains for the session. Each index continues to wind up within a highly explosive pattern, which we will continue to watch for a big breakout.
Summary
The Dow closed the day winding up within the boundaries of a large triangle range, which we will watch to watch closely for the next big breakout move. Watch 11,425 and 11,340 for a solid breakout.
- The NASDAQ and S&P each reversed from early lows today to recover gains for the session. Each index continues to wind up within a highly explosive pattern, which we will continue to watch for a big breakout.
Summary
The Dow closed the day winding up within the boundaries of a large triangle range, which we will watch to watch closely for the next big breakout move. Watch 11,425 and 11,340 for a solid breakout.
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