A Daily Swing Trade

- Dow reverses from major trend line, rallies steadily to the Close. The index proceeded to trade sideways the remainder of the session and is now holding just beneath key resistance at 12,200.

- The NASDAQ and S&P each rallied to early gains this morning, but fizzled a bit to the Close. Each remains bullish after the current two-day advance, but could be in a consolidation mode before another breakout is seen.

Summary

The Dow ended the day near the highs of the session after halting its advance at 12,200. The index is now consolidating at the highs, which may persist ahead of the next move. The index should remain near-term bullish above 12,100.