A Daily Swing Trade

- Dow breaks consolidation to downside, drops hard to the Close. The break led to a steady sell-off away from the 11,600 level and eventually left the Dow with an 80 point loss.

- The NASDAQ and S&P each pulled back from early highs and proceeded steadily lower upon breaking down from a clear range. Look for each to continue to push back toward prior support.

Summary

The Dow closed the day with a big loss after breaking a tight consolidation to the downside early in the day. The index is now holding just above a clear lower trend line that we will watch closely for big medium term movement. Watch 11,500 closely tomorrow..