A Daily Swing Trade

- Dow sells off sharply from early momentum, bounces from lows. The index dropped off about 110 points and tested the key 12,450 zone before getting a solid bounce late in the day to close the session just beneath 12,500.

- The NASDAQ and S&P each sold off fairly aggressively today, but each held lows and bounced to the Close. Watch key support next week, as a test of these levels could be big.

Summary

The Dow closed the day with a nice bounce from the day's lows to end the session with just a modest loss after a bad start to the day. The index continues to look very 'toppy' in the Daily and 60 Minute Charts, which could indicate more weakness ahead.