Monday, January 22, 2007

 
Daily Market Commentary

Updated Friday, 1/19 for Monday's market.


Key DOW Levels for 1/22

P

Above 12,625

DN

Below 12,500


At Resistance...

- Dow maintains stance at resistance, despite technology sell-off. The index lost just 2 points on the day, as it continues to build out ahead of the next big move.

- The NASDAQ and S&P each pulled back from lows today, as each index was able to find support. Look for potential consolidations to build out ahead of the next key move.

Summary

The Dow ended the day much like it has throughout the week, as the index continues to hold at highs just beneath the major 12,600 zone. Look for a break away from this level next week. Watch 12,525 and 12,625 Monday.

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