Thursday, November 30, 2006

 
Daily Market Commentary

Updated Wednesday, 11/29 for Thursday's market.


Key DOW Levels for 11/30

P

Above 12,250

DN

Below 12,150


Upside Break...

- Dow breaks consolidation to upside, rallies for solid gains. The index reversed from the afternoon lows and rallied to a solid 90 point gain.

- The NASDAQ and S&P each each pushed higher today, but the tech-heavy index clearly lagged the broader market. Each index has formed a higher low within the current buying spree from yesterday's lows, which indicates continued strength.

Summary

The Dow closed the day with a solid gain after breaking through and holding above the key 12,150 fulcrum. Continued near-term strength should be seen above this level, unless a violation occurs.

Read More...

Comments: Post a Comment



<< Home

This page is powered by Blogger. Isn't yours?