Monday, October 16, 2006
Daily Market Commentary
Updated Friday, 10/13 for Monday's market's market
Late-Day Advance
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Updated Friday, 10/13 for Monday's market's market
| Key DOW Levels for 10/16 | |
| UP | Above 11,975 |
| DN | Below 11,900 |
Late-Day Advance
- Dow rallies from early decline, closes at new highs again. The index eventually closed the day at another all-time high with a modest gain of just 13 points.
- The NASDAQ and S&P each pushed slowly higher throughout the session today to close near the day's highs. Look for continued strength above near-term support.
Summary
The Dow ended the day with a solid advance to Close at the session's highs after beginning the day slowly. The index continues to hold firmly above prior resistance and continues to reach for new highs, which is highly bullish. Look for continued overall strength above 11,900.
- The NASDAQ and S&P each pushed slowly higher throughout the session today to close near the day's highs. Look for continued strength above near-term support.
Summary
The Dow ended the day with a solid advance to Close at the session's highs after beginning the day slowly. The index continues to hold firmly above prior resistance and continues to reach for new highs, which is highly bullish. Look for continued overall strength above 11,900.
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