Friday, October 13, 2006
Daily Market Commentary
Updated Thursday, 10/12 for Friday's market's market
Solid Breakout
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Updated Thursday, 10/12 for Friday's market's market
| Key DOW Levels for 10/13 | |
| UP | Above 11,975 |
| DN | Below 11,900 |
Solid Breakout
- Dow gets big breakout from consolidation range, rallies to the Close. The index eventually closed the day with a solid 96 point gain, but could be headed higher still.
- The NASDAQ and S&P each got solid breakouts from their respective consolidations. Look for continued overall strength, especially should continuation patterns form in the process.
Summary
The Dow closed out the day with a solid move higher to the Close to cap a highly bullish breakout from the tightly-wound consolidation. Look for continued overall strength to 12,050 in the near-term, especially if the Dow continues to hold above 11,900.
- The NASDAQ and S&P each got solid breakouts from their respective consolidations. Look for continued overall strength, especially should continuation patterns form in the process.
Summary
The Dow closed out the day with a solid move higher to the Close to cap a highly bullish breakout from the tightly-wound consolidation. Look for continued overall strength to 12,050 in the near-term, especially if the Dow continues to hold above 11,900.
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