Thursday, May 31, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Tuesday, 5/29 for Wednesday's market.
Pull-Back from Highs...
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Courtesy of Nirvana Systems
Updated Tuesday, 5/29 for Wednesday's market.
| Key DOW Levels for 5/30 | |
| UP | Above 13,550 |
| DN | Below 13,450 |
Pull-Back from Highs...
- Dow reverses from early strength, but manages to close with gains. The index pushed to new lows before bouncing to the Close for a 14 point gain.
- The NASDAQ and S&P each reversed from early highs and bounced from late-day lows, indicating range movement at overall highs. Look for more sideways movement until a decisive breakout occurs.
The NASDAQ and S&P
Summary
The Dow closed the day with a mild gain of just 14 points, but remains near the overall highs of the major uptrend. The index is building out a large range at these highs, which could eventually spark key directional movement. Watch this range closely.
- The NASDAQ and S&P each reversed from early highs and bounced from late-day lows, indicating range movement at overall highs. Look for more sideways movement until a decisive breakout occurs.
The NASDAQ and S&P
Summary
The Dow closed the day with a mild gain of just 14 points, but remains near the overall highs of the major uptrend. The index is building out a large range at these highs, which could eventually spark key directional movement. Watch this range closely.
Read More...
