Monday, March 05, 2007
Daily Market Commentary
Updated Friday, 3/2 for Monday's market.
Steady Decline...
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Updated Friday, 3/2 for Monday's market.
| Key DOW Levels for 3/5 | |
| UP | Above 12,250 |
| DN | Below 12,050 |
Steady Decline...
- Dow trends steadily lower to Close, holds at key 12,100 zone. The index closed the day near the lows of the prior two bounces at 12,100, but continues to hold these levels, which is modestly bullish. However, once a breakdown occurs, we could see heavy selling pressure once again...
- The NASDAQ and S&P each trended down throughout the day and are currently holding just above key lows. Watch these support levels for direction next week.
Summary
The Dow closed the day within a steady downtrend today, but continues to hold critical support levels at 12,100. Again, we could see the index continue to build out a range from 12,050 to 12,350 before another big move is seen, but a breakout from this range could be big.
- The NASDAQ and S&P each trended down throughout the day and are currently holding just above key lows. Watch these support levels for direction next week.
Summary
The Dow closed the day within a steady downtrend today, but continues to hold critical support levels at 12,100. Again, we could see the index continue to build out a range from 12,050 to 12,350 before another big move is seen, but a breakout from this range could be big.
Read More...
