Friday, September 01, 2006
Daily Market Commentary
Updated Thursday, 8/31 for Friday's market
11,400 Holds...
Read More...
Updated Thursday, 8/31 for Friday's market
| Key DOW Levels for 9/1 | |
| UP | Above 11,425 |
| DN | Below 11,350 |
11,400 Holds...
- Dow continues to honor resistance at 11,400, sets up for big move away from this level. The index continues to honor this key resistance level, which could make for a much bigger move away from this level once direction is established.
- The NASDAQ and S&P each traded sideways throughout the session within the boundaries of clear consolidations. Watch these ranges for movement tomorrow.
Summary
The Dow ended the day with a minor loss today, but continues to be rejected by the 11,400 resistance level. Watch for a big break or reversal to occur from this level in the near term. Such a move could spark movement not seen in three weeks.
- The NASDAQ and S&P each traded sideways throughout the session within the boundaries of clear consolidations. Watch these ranges for movement tomorrow.
Summary
The Dow ended the day with a minor loss today, but continues to be rejected by the 11,400 resistance level. Watch for a big break or reversal to occur from this level in the near term. Such a move could spark movement not seen in three weeks.
Read More...
