A Daily Swing Trade

- Dow rallies near all-time highs, holds to the Close. The index came within 5 points of reaching all-time highs and ultimately closed the day with a 53 point gain, but 25 points from new highs. Considering the Dow has rallied this far, we could see a new record set tomorrow before a pull-back occurs.

- The NASDAQ and S&P each traded sideways-to-up today, building out clear ranges in the process. Keep a close eye on the consolidation of the NASDAQ, as this range could give the best directional signal of movement tomorrow morning.

Summary

The Dow put together another strong session today, as the index came very close to reaching all-time intraday highs. The index should be able to make a new high very soon, but could be in for a moderate retracement once a new high is reached.