Friday, September 15, 2006
Daily Market Commentary
Updated Thursday, 9/14 for Friday's market
Winding Up...
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Updated Thursday, 9/14 for Friday's market
| Key DOW Levels for 9/15 | |
| UP | Above 11,550 |
| DN | Below 11,500 |
Winding Up...
- Dow trades quietly sideways, forms clear triangle consolidation at highs. The Dow is winding up within the boundaries of a clear triangle consolidation that we will want to watch for the next big breakout move.
- The NASDAQ and S&P each traded basically flat today, as each is consolidating at the current highs. Look for continued range development, but for a breakout to be near.
Summary
The Dow traded sideways throughout the day and is now winding up within a tight triangle pattern, which could pack some punch tomorrow. A breakout from this consolidation could push the Dow to our 11,650 target, or it could lead to a steep sell-off back to the 11,400 zone. Watch it closel.
- The NASDAQ and S&P each traded basically flat today, as each is consolidating at the current highs. Look for continued range development, but for a breakout to be near.
Summary
The Dow traded sideways throughout the day and is now winding up within a tight triangle pattern, which could pack some punch tomorrow. A breakout from this consolidation could push the Dow to our 11,650 target, or it could lead to a steep sell-off back to the 11,400 zone. Watch it closel.
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