Wednesday, February 28, 2007
Daily Market Commentary
Updated Tuesday, 2/27 for Wednesday's market.
Major Sell-Off...
Read More...
Updated Tuesday, 2/27 for Wednesday's market.
| Key DOW Levels for 2/28 | |
| UP | Above - None |
| DN | Below 12,075 |
Major Sell-Off...
- Dow sells off in panicked fashion, closes down 416 points. The index took out all of the year's gains and essentially dropped back to the levels not seen since the first of December - in one day! Today's vast weakness indicates that much more selling could be ahead.
- The NASDAQ and S&P each sold off heavily from start to finish today and closed in a highly bearish manner. Look for potential continuation patterns to build out ahead of the next key directional move.
Summary
The Dow closed the day very, very weak today, but could be headed much lower. Look for potential sideways movement to lead to more selling ahead, especially if the Dow remains beneath 12,350.
- The NASDAQ and S&P each sold off heavily from start to finish today and closed in a highly bearish manner. Look for potential continuation patterns to build out ahead of the next key directional move.
Summary
The Dow closed the day very, very weak today, but could be headed much lower. Look for potential sideways movement to lead to more selling ahead, especially if the Dow remains beneath 12,350.
Read More...
