Friday, February 02, 2007
Daily Market Commentary
Updated Thursday, 2/1 for Friday's market.
Late-Day Strength...
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Updated Thursday, 2/1 for Friday's market.
| Key DOW Levels for 2/2 | |
| P | Above 12,725 |
| DN | Below 12,500 |
Late-Day Strength...
- Dow holds throughout session, gets bullish lift to the Close. The index even got a slow, but steady move higher to the Close to end the day with a solid 52 point gain, which continues to extend its gains above key resistance.
- The NASDAQ and S&P each pushed slowly higher late in the afternoon, but once again, the NASDAQ lagged the broader market averages. The tech-heavy index continues to hold way short of prior highs, whereas the S&P and Dow continue to push to new highs. Watch this index to key movement ahead.
Summary
The Dow closed the day with a modest rally today, which pushed the index to another all-time record closing high. The index continues to hold above the key 12,600 zone, which is quite bullish heading forward. However, watch this zone closely, as a break could bring a swift end to the current rally.
- The NASDAQ and S&P each pushed slowly higher late in the afternoon, but once again, the NASDAQ lagged the broader market averages. The tech-heavy index continues to hold way short of prior highs, whereas the S&P and Dow continue to push to new highs. Watch this index to key movement ahead.
Summary
The Dow closed the day with a modest rally today, which pushed the index to another all-time record closing high. The index continues to hold above the key 12,600 zone, which is quite bullish heading forward. However, watch this zone closely, as a break could bring a swift end to the current rally.
Read More...
