Sunday, October 01, 2006

 
Daily Market Commentary

Updated Thursday, 9/28 for Friday's
market


Key DOW Levels for 9/29

UP

Above 11,750

DN

Below 11,650


Still Consolidating...

- Dow trades sideways throughout session, forms clear consolidation. The index closed the day with a 29 point gain for the session, but closed just 10 points below the all-time closing highs.

- The NASDAQ and S&P continue to wind up within their respective consolidations. However, the NASDAQ continues to be a bit more reserved than the broader market, which is concerning to big medium term strength.

Summary

The Dow ended the day with a modest gain and is now holding at the top of the clear consolidation that has formed at the overall highs. Look for further range movement ahead of the next key breakout.

Read More...

Comments: Post a Comment



<< Home

This page is powered by Blogger. Isn't yours?