A Daily Swing Trade

- Dow trades quietly sideways throughout session, builds out tight consolidation. The index has done a good job so far in holding above the major 12,600 resistance level, but we also need to see more bullish movement ahead. Otherwise, the index is still vulnerable to another potential sell-off.

- The NASDAQ and S&P each continue to hold within their respective consolidation ranges. Each looks to be gearing up for another big move, but look as though they are favoring a downside break. Watch the current ranges for key direction tomorrow.

Summary

The Dow continues to hold at the overall highs above the key 12,600 resistance level. The index has managed to hold above this zone for three straight days, which is promising looking forward. Continue to watch the key 12,620 zone for clear direction.