Wednesday, August 08, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Tuesday, 8/7 for Wednesday's market.
Volatile Afternoon...
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Courtesy of Nirvana Systems
Updated Tuesday, 8/7 for Wednesday's market.
| Key DOW Levels for 8/8 | |
| UP | Above 13,800 |
| DN | Below 13,300 |
Volatile Afternoon...
- Dow breaks above 13,500, swings wildly into the Close. The index gained 36 points on the session, but continues to look weak in the longer term picture.
- The NASDAQ and S&P each trended mostly higher today, but each ran into resistance late in the day. Watch resistance closely for signs of more near-term strength or more overall selling.
Summary
The Dow closed the day with a modest gain after experiencing high volatility late in the day. The index continues to hover around the 13,500 level and could continue to push modestly higher. However, the index continues to look weak and a strong break below 13,300 could make for another big wave of selling.
- The NASDAQ and S&P each trended mostly higher today, but each ran into resistance late in the day. Watch resistance closely for signs of more near-term strength or more overall selling.
Summary
The Dow closed the day with a modest gain after experiencing high volatility late in the day. The index continues to hover around the 13,500 level and could continue to push modestly higher. However, the index continues to look weak and a strong break below 13,300 could make for another big wave of selling.
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