Thursday, January 18, 2007
Daily Market Commentary
Updated Wednesday, 1/17 for Thursday's market.
12,600 Holds...
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Updated Wednesday, 1/17 for Thursday's market.
| Key DOW Levels for 1/18 | |
| P | Above 12,625 |
| DN | Below 12,525 |
12,600 Holds...
- Dow tests key resistance at 12,600, but fails yet again. The index was not able to maintain the momentum above resistance and eventually fell to the Close for a mild loss on the day.
- The NASDAQ and S&P each held ground throughout much of the day, but the tech-heavy index eventually dragged the broader market down. Watch key near-term support for key direction tomorrow.
Summary
The Dow ended the day with a mild loss after reaching to new intraday highs midway through the session. The index is not having any luck breaking and holding above key resistance at 12,600 and could be on the verge of a big pull-back from highs. Watch 12,525 closely.
- The NASDAQ and S&P each held ground throughout much of the day, but the tech-heavy index eventually dragged the broader market down. Watch key near-term support for key direction tomorrow.
Summary
The Dow ended the day with a mild loss after reaching to new intraday highs midway through the session. The index is not having any luck breaking and holding above key resistance at 12,600 and could be on the verge of a big pull-back from highs. Watch 12,525 closely.
Read More...
