Thursday, July 12, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Tuesday, 7/10 for Wednesday's market.
Reversal from Resistance...
Read More...
Courtesy of Nirvana Systems
Updated Tuesday, 7/10 for Wednesday's market.
| Key DOW Levels for 7/11 | |
| UP | Above 13,700 |
| DN | Below 13,250 |
Reversal from Resistance...
- Dow sells off from resistance, drops 148 points.
- From prior commentary, "...The Dow will likely test this zone very soon, which will give us a very good indication that the Dow will either remain strong or get a bearish bounce...a failure at this level will likely cause another drop back toward the bottom of the range at around 13,300..."
The Dow opened the day with a big decline from the major 13,700 resistance level today and proceeded to drop the rest of the session, as seen in the 15 and 60 Minute Charts. The Dow sold off heavily into the afternoon and eventually closed with a big 148 point loss, but more weakness is likely.
- From prior commentary, "...The Dow will likely test this zone very soon, which will give us a very good indication that the Dow will either remain strong or get a bearish bounce...a failure at this level will likely cause another drop back toward the bottom of the range at around 13,300..."
The Dow opened the day with a big decline from the major 13,700 resistance level today and proceeded to drop the rest of the session, as seen in the 15 and 60 Minute Charts. The Dow sold off heavily into the afternoon and eventually closed with a big 148 point loss, but more weakness is likely.
Read More...
