Friday, October 27, 2006

 
Daily Market Commentary

Updated Thursday, 10/26 for Friday's market.


Key DOW Levels for 10/27

UP

Above 12,200

DN

Below 12,075


New Highs...

- Dow reverses after early decline, rallies to new highs. The index held firmly at 12,100 before rallying solidly to new all-time highs for another solid 29 point gain. Further strength should be seen if 12,100 continues to hold.

- The NASDAQ continues lead the broader market higher and the S&P continues to follow suit. Look for continued strength above near-term support.

Summary

The Dow ended the day with a modest gain, but held its ground despite a huge sell-off to begin the day. The index will continue to push steadily higher within the current uptrend, unless 12,100 is solidly violated.

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