A Daily Swing Trade

- Dow pulls back from morning advance, drops through key support. The index held its ground above 12,650, which could indicate a potential bounce tomorrow.

- The NASDAQ and S&P each sold off steadily throughout the morning, but the NASDAQ led a nice move higher to close the day. The tech-heavy index may spark a broader market reversal tomorrow.

Summary

The Dow closed the day near the lows of the session after dropping sharply to begin the day. The index is holding beneath the 12,700 level, but could continue to honor this zone as a major fulcrum. Watch for continued overall strength above 12,600, unless this level is taken out.