A Daily Swing Trade

- Dow sells off sharply late in the day, closes with 167 point loss. The index has cleared the neck line of the highly bearish head-and-shoulders pattern, which could make for more selling ahead.

- The NASDAQ and S&P each sold off sharply to Close the day, with each index breaking key support. Look for more weakness moving forward, especially if the indexes remain beneath support.

Summary

The Dow closed the day with a heavy decline this afternoon and continues to push lower beneath the neck line of the major H&S. Look for the target of the pattern to eventually be reached at around 12,400.