A Daily Swing Trade

- Dow trades slowly sideways, remains beneath 12,700. The index closed with a 39 point loss and ended the day quietly between the key 12,600 and 12,700 levels. If the index can remain above 12,600, there's a great chance at another new high.

- The NASDAQ and S&P each traded mostly lower today, but continue to hold above key near-term support. Look for each to continue to gear up for the approaching breakout move.

Summary

The Dow has gotten a steady, three-day pull-back from the all-time highs reached earlier in the week, which means we could be getting really for another ride higher soon. Watch for continued overall strength above 12,600 next week, especially if 12,700 is taken out with force.