Thursday, October 26, 2006

 
Daily Market Commentary

Updated Wednesday, 10/25 for Thursday's market.


Key DOW Levels for 10/26

UP

Above 12,150

DN

Below 12,050


Still Holding...

- Dow continues holding at highs, resumes development of consolidation. The index closed the day at the top of the pattern with a 7 point gain, and looks close to breaking out.

- The NASDAQ continues to wind up within a large triangle pattern, while the S&P continues to push higher. Look for continued overall strength, unless support is violated.

Summary

The Dow continues to trade within the boundaries of a clear consolidation that should spark the next key move. Watch the boundaries of this pattern for big movement..

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