Tuesday, October 24, 2006

 
Daily Market Commentary

Updated Friday, 10/20 for Monday's market.


Key DOW Levels for 10/23

UP

Above 12,050

DN

Below 11,940


Still Holding...

- Dow pushes back and forth around 12,000, closes relatively flat. The indexeventually closed the day with a small loss, but remained barely above the 12,000 level.

- The NASDAQ and S&P each traded mostly sideways-to-up after the early weakness. Each continues to hang within their respective ranges, which could be on the verge of a big breakout opportunity.

Summary

The Dow closed the day with a 9 point loss and continues to struggle in the 12,000 zone. The index has maintained a highly bullish stance within a clear uptrend, but a huge violation through 11,950 could spark big weakness.

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