A Daily Swing Trade

- Dow trades quietly lower from 12,350, ends day with small loss. The index reversed from the session's highs and eventually closed the day with a relatively mild 26 point loss.

- The NASDAQ and S&P each continue to trade within the boundaries of their respective consolidations. Watch these ranges for big movement.

Summary

The Dow continues to hold firmly at the overall highs of the recent uptrend, which indicates continued bullishness. We could see the Dow build out a nice consolidation above 12,275 as it gears up for the next key move. Watch this zone closely for early direction.