A Daily Swing Trade

- Dow rallies throughout session, holds gains to the Close. The index pulled back from the session's highs late in the day, but still managed to hang on to a nice 76 point gain for the day, which is another all-time record close. However, a potential head-and-shoulders pattern could halt current momentum.

- The NASDAQ and S&P each rallied out of the gate today, but held firmly at resistance, where potentially bearish patterns are now forming. Further overall strength is likely, but a pull-back could happen first.

Summary

The Dow ended the day with a nice gain today and is now holding above key resistance. The index remains highly bullish, but the formation of the intraday head-and-shoulders pattern could lead to a near-term retracement tomorrow.