Monday, August 13, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Friday, 8/10 for Monday's market.
Volatile Swings...
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Courtesy of Nirvana Systems
Updated Friday, 8/10 for Monday's market.
| Key DOW Levels for 8/8 | |
| UP | Above 13,800 |
| DN | Below 13,300 |
Volatile Swings...
- Dow tests 13,100 level, trades sideways in volatile 250 point range. The index rallied about 250 points from the day's lows, dropped 150 points, then rallied 150 points into the Close - which is quite a demonstration of volatility.
- The NASDAQ and S&P closed the day with buying into the Close and continue to hold above critical support levels after today's tests. Look for the indexes to continue to test these zones until a solid break or bounce occurs.
Summary
The Dow ended the day with another burst higher from the 13,100 fulcrum that we continue to watch. Look for the Dow to continue to wind up within the current 200 point range before another key breakout move occurs. If the Dow remains above 13,000, we could see another wave of buying back toward the 13,600 zone.
- The NASDAQ and S&P closed the day with buying into the Close and continue to hold above critical support levels after today's tests. Look for the indexes to continue to test these zones until a solid break or bounce occurs.
Summary
The Dow ended the day with another burst higher from the 13,100 fulcrum that we continue to watch. Look for the Dow to continue to wind up within the current 200 point range before another key breakout move occurs. If the Dow remains above 13,000, we could see another wave of buying back toward the 13,600 zone.
Read More...
