Monday, February 12, 2007
Daily Market Commentary
Updated Friday, 2/9 for Monday's market.
Big Sell-Off...
Read More...
Updated Friday, 2/9 for Monday's market.
| Key DOW Levels for 2/12 | |
| P | Above 12,700 |
| DN | Below 12,525 |
Big Sell-Off...
- Dow opens session quietly, eventually drops over 100 points from the day's highs. The index got a nice bounce to the Close and settled the day with a 57 point loss, but much more selling could be ahead.
- The NASDAQ and S&P each pushed lower early in the day, but led nice upside reversals to the Close. Look for the indexes to continue to build out at highs ahead of the next key breakout move.
Summary
The Dow closed the day with a modest bounce higher, but that was only a fraction of the decline that preceded it. The index could be on the verge of a much bigger sell-off ahead, especially if the it takes out 12,525 with force.
- The NASDAQ and S&P each pushed lower early in the day, but led nice upside reversals to the Close. Look for the indexes to continue to build out at highs ahead of the next key breakout move.
Summary
The Dow closed the day with a modest bounce higher, but that was only a fraction of the decline that preceded it. The index could be on the verge of a much bigger sell-off ahead, especially if the it takes out 12,525 with force.
Read More...
