A Daily Swing Trade

- Dow hits new lows, but pulls back to hold near overall lows. The index pulled back from the day's lows and proceeded to consolidate the remainder of the session and recorded a mild 15 point gain in the process.

- The NASDAQ and S&P each each pulled back from lows and have begun to build out large ranges. Look for further range development ahead of the next key breakout.

Summary

The Dow closed the day with a modest advance today and is now holding within the boundaries of a clear consolidation range. Look for more range activity, as the index continues to build out the potential continuation pattern.