A Daily Swing Trade

- Dow sells off sharply at Open, reverses slowly to the Close. The index was able to hold its ground above the key 12,350 fulcrum and took a double-bottom reversal back toward the day's open to end the session with a relatively mild 12 point loss.

- The NASDAQ and S&P each recovered early losses today, but continue to hold beneath key resistance. Watch these ranges closely for direction.

Summary

The Dow closed the day well off the day's lows, as the index did a solid job of taking back early losses. The index is now bouncing around within the boundaries of 12,350 and 12,500, which is the next key range to watch for key directional movement.