Monday, November 13, 2006

Daily Market Commentary

Updated Friday, 11/10 for Monday's market.

Key DOW Levels for 11/13


Above 12,200


Below 12,050

Sideways Day...

- Dow trades sideways throughout session, holds at 12,100. The day's trading was quite ugly, but the index still closed the day positive with a 5 point gain. If the index continues to hold above the major lower trend line at 12,050, we could see another big move to new highs.

- The NASDAQ and S&P each pushed off lows fairly well today, much better than did the Dow. Each continues to hold above key support, which we will continue to watch for big direction next week.


The Dow closed the day basically where it ended yesterday, which is just above 12,100. The index continues to work out key direction, but remains above the major 12,050 level, which indicates continued overall strength.


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