Thursday, October 19, 2006
Daily Market Commentary
Updated Wednesday, 10/18 for Thursday's market's market
Target Reached..
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Updated Wednesday, 10/18 for Thursday's market's market
| Key DOW Levels for 10/19 | |
| UP | Above 12,100 |
| DN | Below 11,925 |
Target Reached..
- Dow reaches all-time highs at 12,000, hits consolidation target as well. The index closed the day calmly lower by just 43 points, but could be gearing up for another big move.
- The NASDAQ and S&P each sold off from early gains today and could be on verge of heading lower. Watch near-term support in the NASDAQ, as this could tell the story tomorrow.
Summary
The Dow closed the day well of the day's highs after setting all-time highs yet again within this overall uptrend. The index looks like it may have topped out now, however. If the index gets a break through the major lower trend line at 11,925, we could see big selling ahead.
- The NASDAQ and S&P each sold off from early gains today and could be on verge of heading lower. Watch near-term support in the NASDAQ, as this could tell the story tomorrow.
Summary
The Dow closed the day well of the day's highs after setting all-time highs yet again within this overall uptrend. The index looks like it may have topped out now, however. If the index gets a break through the major lower trend line at 11,925, we could see big selling ahead.
Read More...
