Thursday, February 01, 2007
Daily Market Commentary
Updated Wednesday, 1/31 for Thursday's market.
Late-Day Rally...
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Updated Wednesday, 1/31 for Thursday's market.
| Key DOW Levels for 2/1 | |
| P | Above 12,700 |
| DN | Below 12,450 |
Late-Day Rally...
- Dow reverses sharply from yesterday's highs, drops steadily throughout the day. The index closed the day near the highs of the session with a solid 98 point gain and is now sitting at all-time highs above 12,600.
- The NASDAQ and S&P each pushed nicely higher from early lows today and now look bullish near-term. Look for potential continuation patterns to build out at highs ahead of the next key move.
Summary
The Dow ended the day with a nice rally through 12,600 today and is currently sitting at all-time highs. If the index can build out a continuation pattern above 12,600, we could see much more strength ahead. Otherwise, another wave of near-term selling is likely.
- The NASDAQ and S&P each pushed nicely higher from early lows today and now look bullish near-term. Look for potential continuation patterns to build out at highs ahead of the next key move.
Summary
The Dow ended the day with a nice rally through 12,600 today and is currently sitting at all-time highs. If the index can build out a continuation pattern above 12,600, we could see much more strength ahead. Otherwise, another wave of near-term selling is likely.
Read More...
