Tuesday, July 24, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Monday, 7/23 for Tuesday's market.
Bounce from Support...
Read More...
Courtesy of Nirvana Systems
Updated Monday, 7/23 for Tuesday's market.
| Key DOW Levels for 7/24 | |
| UP | Above 14,050 |
| DN | Below 13,775 |
Bounce from Support...
- Dow extends Friday's bounce off 13,800 support, gains 92 points. The index trended slowly higher throughout the day and eventually closed the day with a nice 92 point gain, but remains beneath the key resistance level of 14,025.
- The NASDAQ and S&P each pushed slowly higher today, but were far less bullish than the Dow. Each index remains above near-term support, which we will continue to watch for a potential break or bounce.
Summary
The Dow ended the day with a nice gain, but looks fairly lackluster after the initial strength at the Open. The index remains within the confines of the large consolidation range, which will be the key pattern to watch for the next big breakout move.
- The NASDAQ and S&P each pushed slowly higher today, but were far less bullish than the Dow. Each index remains above near-term support, which we will continue to watch for a potential break or bounce.
Summary
The Dow ended the day with a nice gain, but looks fairly lackluster after the initial strength at the Open. The index remains within the confines of the large consolidation range, which will be the key pattern to watch for the next big breakout move.
Read More...
