Monday, May 07, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Friday, 5/4 for Monday's market.
Still Consolidating...
Read More...
Courtesy of Nirvana Systems
Updated Friday, 5/4 for Monday's market.
| Key DOW Levels for 5/7 | |
| UP | Above 13,300 |
| DN | Below 13,175 |
Still Consolidating...
- Dow pulls back from early highs, continues to build out key range. The index closed the day with another gain of 23 points and continues to hold at overall highs.
- The NASDAQ and S&P each reversed sharply from early gains this morning, creating a potentially bearish pattern. The indexes have been highly bullish lately, but this pattern could bring about near-term weakness.
Summary
The Dow closed the day with another gain, as the index continues its blistering pace higher. The index is now building out a range from 13,200 to 13,300, which we will want to watch as it determines its next key directional move.
- The NASDAQ and S&P each reversed sharply from early gains this morning, creating a potentially bearish pattern. The indexes have been highly bullish lately, but this pattern could bring about near-term weakness.
Summary
The Dow closed the day with another gain, as the index continues its blistering pace higher. The index is now building out a range from 13,200 to 13,300, which we will want to watch as it determines its next key directional move.
Read More...
