Wednesday, April 04, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Tuesday, 4/3 for Wednesday's market.
Breakout & Rally...
Read More...
Courtesy of Nirvana Systems
Updated Tuesday, 4/3 for Wednesday's market.
| Key DOW Levels for 4/4 | |
| UP | Above 12,550 |
| DN | Below 12,300 |
Breakout & Rally...
- Dow breaks through top of channel, rallies for 128 point gain. The indexindex closed the day right at prior resistance at 12,510, but could very well continue pushing higher.
- The NASDAQ and S&P each broke clear channels to the upside en route to big strength today. Each is holding at clear resistance, which we will watch for near-term direction tomorrow.
Summary
The Dow closed the day near the highs of the session after breaking a clear consolidation range and channel to the upside at 12,400. The index should remain strong in the medium term, but could pull back slightly from today's highs, as it builds out a potential continuation pattern.
- The NASDAQ and S&P each broke clear channels to the upside en route to big strength today. Each is holding at clear resistance, which we will watch for near-term direction tomorrow.
Summary
The Dow closed the day near the highs of the session after breaking a clear consolidation range and channel to the upside at 12,400. The index should remain strong in the medium term, but could pull back slightly from today's highs, as it builds out a potential continuation pattern.
Read More...
