A Daily Swing Trade

- Dow reverses from early decline to end day basically flat. The index reversed sharply from the session's lows and eventually staged a 100 point rally to close the day with a relatively modest 28 point loss.

- The NASDAQ and S&P each broke major pennants to the downside to begin the day, but later rallied from big lows to close the day respectfully. Watch the larger patterns for key movement next week.

Summary

The Dow ended the day with very bullish rally after dipping its toes beneath 12,100. This is a highly bullish sign for the index, especially if 12,250 is crossed with authority. Also watch 12,050 for weakness.