Thursday, September 07, 2006
Daily Market Commentary
Updated Wednesday, 9/6 for Thursday's market
Back at 11,400
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Updated Wednesday, 9/6 for Thursday's market
| Key DOW Levels for 9/7 | |
| UP | Above 11,450 |
| DN | Below 11,380 |
Back at 11,400
- Dow sells off from highs, closes back at key 11,400 fulcrum. The index ended the day with a 63 point loss, but could be on the verge of a much bigger decline ahead.
- The NASDAQ and S&P each sold off heavily to begin the day, but continued with selling pressure to the Close. Look for potential continuation patterns to form to indicate continued weakness.
Summary
The Dow ended the day with a solid loss today, but is currently holding at the key 11,400 fulcrum. Watch this zone for early direction tomorrow. A break of the major lower trend line at 11,380 could really open the gates for the bears.
- The NASDAQ and S&P each sold off heavily to begin the day, but continued with selling pressure to the Close. Look for potential continuation patterns to form to indicate continued weakness.
Summary
The Dow ended the day with a solid loss today, but is currently holding at the key 11,400 fulcrum. Watch this zone for early direction tomorrow. A break of the major lower trend line at 11,380 could really open the gates for the bears.
Read More...
