Friday, March 16, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Thursday, 3/15 for Friday's market.
Holding...
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Courtesy of Nirvana Systems
Updated Thursday, 3/15 for Friday's market.
| Key DOW Levels for 3/16 | |
| UP | Above 12,200 |
| DN | Below 11,925 |
Holding...
- Dow holds modest gains, builds out tight consolidation at highs. The index held on to a 26 point gain and is now building out a tight consolidation at the highs of yesterday's late-day rally, which could spark more strength ahead tomorrow.
- The NASDAQ and S&P each traded quietly sideways throughout most of the session as volatility dried up. However, we could see a nice breakout from their respective ranges tomorrow.
Summary
The Dow opened the session strong today, but basically traded sideways the rest of the session, building out a clear consolidation at the highs in the process. This consolidation could offer additional strength tomorrow. Watch 12,200.
- The NASDAQ and S&P each traded quietly sideways throughout most of the session as volatility dried up. However, we could see a nice breakout from their respective ranges tomorrow.
Summary
The Dow opened the session strong today, but basically traded sideways the rest of the session, building out a clear consolidation at the highs in the process. This consolidation could offer additional strength tomorrow. Watch 12,200.
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