A Daily Swing Trade

- Dow sells off early, drops hard into the Close. From prior commentary, "...The fact that the Dow has rallied from 12,500 and stopped precisely at this upper line indicates many traders are watching this level. If the Dow cannot rise above this zone with follow-through, we will likely see another wave of selling to new lows..."

The Dow opened the session with selling right from the beginning, which never let up the rest of the session, as seen across all timeframes. The Dow dropped significantly from the major upper trend line at 13,400 and sold off heavily back toward the 13,300 level, as seen int he Daily and 60 Minute Charts. The Dow ended the day with a big 280 point loss, but several more days of heavy selling could be seen.