A Daily Swing Trade

- Dow opens session quietly, eventually drops over 100 points from the day's highs. The index is now holding around the key 12,550 zone, which is a fulcrum in the 60 Minute Charts, and could continue pushing lower in the medium term.

- The NASDAQ and S&P each held lows, as they begin potential continuation patterns. Look for range movement at lows ahead of more selling down the road.

Summary

The Dow continues to trade near the overall lows of the recent decline, which is highly bearish. Look for continued overall weakness beneath the 12,625 level, especially if 12,525 gives way.