Thursday, June 21, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Wednesday, 6/20 for Thursday's market.
Late-Day Sell-Off...
Read More...
Courtesy of Nirvana Systems
Updated Wednesday, 6/20 for Thursday's market.
| Key DOW Levels for 6/21 | |
| UP | Above 13,700 |
| DN | Below 13,400 |
Late-Day Sell-Off...
- Dow holds within consolidation throughout session, but sells off late in the day. The index finally got a big downside break from the pattern at 13,570 and dropped hard to the Close for an eventual 146 point loss.
- The NASDAQ and S&P each broke clear ranges to the downside late in the day, making key selling pressure. Watch for more weakness beneath the bottom of these ranges.
Summary
The Dow ended the day with clear selling pressure after breaking the key consolidation to the downside. More downside movement could be seen within the larger range, but watch 13,600 for any snap-back reactions.
- The NASDAQ and S&P each broke clear ranges to the downside late in the day, making key selling pressure. Watch for more weakness beneath the bottom of these ranges.
Summary
The Dow ended the day with clear selling pressure after breaking the key consolidation to the downside. More downside movement could be seen within the larger range, but watch 13,600 for any snap-back reactions.
Read More...
