Thursday, May 31, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Wednesday, 5/30 for Thursday's market.
Triangle Break...
Read More...
Courtesy of Nirvana Systems
Updated Wednesday, 5/30 for Thursday's market.
| Key DOW Levels for 5/31 | |
| UP | Above 13,700 |
| DN | Below 13,450 |
Triangle Break...
- Dow rallies from early lows, breaks triangle to upside en route to big strength. The index got a big upside break through the top of the triangle mentioned in yesterday's commentary and still has about another 100 points until the target is reached.
The NASDAQ and S&P
- The NASDAQ and S&P each rallied steadily throughout the session after forming v-bottom lows. Look for more strength ahead, especially if resistance levels are crossed.
Summary
The Dow ended the day with a huge rally after bouncing off the 13,500 level late in the day. The index is sitting at all-time highs and continues to hold above the 13,400 zone, which indicates more medium term strength ahead.
The NASDAQ and S&P
- The NASDAQ and S&P each rallied steadily throughout the session after forming v-bottom lows. Look for more strength ahead, especially if resistance levels are crossed.
Summary
The Dow ended the day with a huge rally after bouncing off the 13,500 level late in the day. The index is sitting at all-time highs and continues to hold above the 13,400 zone, which indicates more medium term strength ahead.
Read More...
