A Daily Swing Trade

- Dow rallies toward 13,200 early, but trades sideways to the Close. As the highs of the day, the Dow had gained 290 points, which occurred in the first 15 minutes of the day. However, the index sold off shortly thereafter, but was climbed steadily into the Close to end the day with a big 233 point gain.

- The NASDAQ and S&P each rallied sharply at the Open, but halted the advance at their respective resistance levels. Watch these levels closely for signs of more strength ahead.

Summary

The Dow closed the day fairly quietly after the opening volatility. The index may have formed a bullish inverted H&S, which we will watch closely for signs of more strength.