A Daily Swing Trade

- Dow maintains stance at resistance, despite technology sell-off. The index ended the day above near-term support at 12,540 and only managed a 9 point loss, despite the big decline in technology.

- The NASDAQ continues to look highly bearish after a big three-day sell-off, which is beginning to take its toll on the broader market. Watch for more selling ahead.

Summary

The Dow closed the day modestly lower today, but continues to hold at the overall highs in a better-than-expected manner. However, if the index cannot rise confidently above 12,600, it is very likely to sell-off from these highs.