Thursday, September 21, 2006

 
Daily Market Commentary

Updated Wednesday, 9/20 for Thursday's
market


Key DOW Levels for 9/21

UP

Above 11,650

DN

Below 11,575


Bullish Upmove

- Dow rallies at Open, maintains gains to the Close. The index closed the day with a solid 72 point gain and now finds itself within a very tight consolidation, which we will watch closely tomorrow.

- The NASDAQ and S&P each rallied early in the day, followed by sideways movement the rest of the session. Watch today's tight range for directional movement tomorrow.

Summary

The Dow closed the day near the highs of the session after beginning the day highly bullish. The index is now holding at the key 11,600 resistance level that has been rock in the face of strength so far this year. Watch it closely.

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