A Daily Swing Trade

- Dow breaks critical support, but rallies after reversing sharply from lows. The index dropped an additional 100 points for a total of 135 points of losses before rallying 200 points to the Close for a 57 point gain. Today's late-day rally puts a wrinkle in direction, but offers an option of potential strength ahead.

- The NASDAQ and S&P each reversed from key lows this morning, as the NASDAQ held critical lows to the 'T'. Look for more near-term strength above this support.

Summary

The Dow got a huge upside reversal from lows after dipping below the 12,000 zone for the first time this year. The index is now back above 12,100 and could continue to build toward its next key move.