Tuesday, October 17, 2006
Daily Market Commentary
Updated Monday, 10/16 for Tuesday's market's market
Steady Advance
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Updated Monday, 10/16 for Tuesday's market's market
| Key DOW Levels for 10/17 | |
| UP | Above 12,000 |
| DN | Below 11,900 |
Steady Advance
- Dow pushes modestly higher, closes in on 12,000. The index came within 3 points of hitting the 12,000 level and continues to climb to all-time highs.
- The NASDAQ and S&P each held their own within the current uptrend, but the NASDAQ is beginning to show signs of weakness. Watch near-term support tomorrow.
Summary
The Dow closed the day near the highs of the session after pushing slowly higher throughout the day. The index is approaching 12,000, but could be on the verge of a pull-back if 11,950 cannot hold.
- The NASDAQ and S&P each held their own within the current uptrend, but the NASDAQ is beginning to show signs of weakness. Watch near-term support tomorrow.
Summary
The Dow closed the day near the highs of the session after pushing slowly higher throughout the day. The index is approaching 12,000, but could be on the verge of a pull-back if 11,950 cannot hold.
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