A Daily Swing Trade

- Dow reverses from early lows, rallies solidly through 12,200. The index has now come within 30 points of hitting the 12,365 consolidation target, which could be hit just prior to a potential pull-back in this index.

- The NASDAQ and S&P each continue to hold near the overall highs, building consolidations in the process. Watch these ranges for key movement early next week.

Summary

The Dow closed the day with another new record high and continues to tack on points within the current uptrend. The Dow should remain quite bullish above 12,200, but we could see a near-term retracement before another explosive breakout is seen.