Tuesday, February 27, 2007
Daily Market Commentary
Updated Monday, 2/26 for Tuesday's market.
Steady Decline...
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Updated Monday, 2/26 for Tuesday's market.
| Key DOW Levels for 2/27 | |
| UP | Above 12,700 |
| DN | Below 12,600 |
Steady Decline...
- Dow bounces off 12,700, drops throughout the day. The index closed the day with a mild 15 point loss, and looks to be gearing up for the next big move.
- The NASDAQ and S&P each sold off heavily to begin the day today, but bounced nicely to the Close. Watch near-term support for directional clues tomorrow morning.
Summary
The Dow sold off steadily from the 12,700 today, but continues to hold above the major 12,600 support level, which is being held up by the major lower trend line. Watch this zone for big directional movement tomorrow.
- The NASDAQ and S&P each sold off heavily to begin the day today, but bounced nicely to the Close. Watch near-term support for directional clues tomorrow morning.
Summary
The Dow sold off steadily from the 12,700 today, but continues to hold above the major 12,600 support level, which is being held up by the major lower trend line. Watch this zone for big directional movement tomorrow.
Read More...
