Monday, April 09, 2007

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Thursday, 4/5 for Monday's market.

Key DOW Levels for 4/9

UP

Above 12,600

DN

Below 12,485


Slow Advance...

- Dow trends slowly higher throughout session, closes above resistance. The index got a nice breakout from the clear consolidation and is now holding above key resistance, which bodes well for trading next week.

- The NASDAQ and S&P each pushed slowly higher today out of the clear consolidations that had been forming. Look for more strength out of these patterns, especially if near-term support holds.

Summary

The Dow closed the day quietly higher after trending slowly up throughout most of the day. The index continues to hold above the clear 12,500 fulcrum, which hints at more strength ahead, especially if 12,500 continues to hold. Watch this zone closely.

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