Friday, February 09, 2007
Daily Market Commentary
Updated Thursday, 2/8 for Friday's market.
Drop & Pop...
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Updated Thursday, 2/8 for Friday's market.
| Key DOW Levels for 2/9 | |
| P | Above 12,700 |
| DN | Below 12,550 |
Drop & Pop...
- Dow drops through support, but recovers to the Close. The index closed out the day with a 29 point loss, but continues to look very indecisive at present.
- The NASDAQ and S&P each pushed lower early in the day, but led nice upside reversals to the Close. Look for the indexes to continue to build out at highs ahead of the next key breakout move.
Summary
The Dow ended the day with a nice recovery from the session's lows. The index continues to wind up beneath the key 12,700 level and could eventually approach a big breakout opportunity soon. Watch 12,700 and 12,550 for big moves.
- The NASDAQ and S&P each pushed lower early in the day, but led nice upside reversals to the Close. Look for the indexes to continue to build out at highs ahead of the next key breakout move.
Summary
The Dow ended the day with a nice recovery from the session's lows. The index continues to wind up beneath the key 12,700 level and could eventually approach a big breakout opportunity soon. Watch 12,700 and 12,550 for big moves.
Read More...
