Tuesday, January 23, 2007
Daily Market Commentary
Updated Monday, 1/22 for Tuesday's market.
Big Sell-Off...
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Updated Monday, 1/22 for Tuesday's market.
| Key DOW Levels for 1/223 | |
| P | Above 12,600 |
| DN | Below 12,450 |
Big Sell-Off...
- Dow breaks below 12,525, drops steadily throughout morning. The index later pulled back from the session's lows, but still closed the day off by 88 points and could be headed lower still.
- The NASDAQ and S&P each sold off heavily with the tech-heavy index leading the way via exhaustion gap. Look for each index to build out at the lows ahead of the next move.
Summary
The Dow closed the day basically sideways, as the index traded nowhere after the opening decline. Look for the index to build out the current consolidation ahead of the next key breakout move.
- The NASDAQ and S&P each sold off heavily with the tech-heavy index leading the way via exhaustion gap. Look for each index to build out at the lows ahead of the next move.
Summary
The Dow closed the day basically sideways, as the index traded nowhere after the opening decline. Look for the index to build out the current consolidation ahead of the next key breakout move.
Read More...
