Monday, April 23, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Friday, 4/20 for Monday's market.
Sharp Advance...
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Courtesy of Nirvana Systems
Updated Friday, 4/20 for Monday's market.
| Key DOW Levels for 4/23 | |
| UP | Above 13,000 |
| DN | Below 12,900 |
Sharp Advance...
- Dow rallies strong at Open, pushes to new highs at the Close. The index reached the 12,950 level and held steady throughout the day before rallying to the Close with a big 153 point gain.
- The NASDAQ and S&P each rallied in strong fashion this morning and where able to hold gains to the Close, which is a very bullish sign. Look for potential ranges to form at highs, unless near-term support is crossed.
Summary
The Dow closed the day with a solid gain after opening the day in a highly bullish manner. The index has rallied steadily higher over the last seven days and could be nearing an over-bought nature. A break back below 12,900 could bring about a much-needed retracement before more strength is seen.
- The NASDAQ and S&P each rallied in strong fashion this morning and where able to hold gains to the Close, which is a very bullish sign. Look for potential ranges to form at highs, unless near-term support is crossed.
Summary
The Dow closed the day with a solid gain after opening the day in a highly bullish manner. The index has rallied steadily higher over the last seven days and could be nearing an over-bought nature. A break back below 12,900 could bring about a much-needed retracement before more strength is seen.
Read More...
