Tuesday, September 04, 2007
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Friday, 8/31 for Tuesday's market.
13,400 Holds...
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Courtesy of Nirvana Systems
Updated Friday, 8/31 for Tuesday's market.
| Key DOW Levels for 9/4 | |
| UP | Above 13,450 |
| DN | Below 13,200 |
13,400 Holds...
- Dow trades up to 13,400 level, but cannot get key breakout. The Index has been very reluctant to show bullish strength from lows despite rallying from the 12,500 level. If the index cannot rise above 13,400 and hold, we could see another round of heavy selling, especially if 13,200 is crossed.
- The NASDAQ and S&P closed the day with gains, but sold off mildly into the Close. Each index continues to remain near the week's highs, but watch resistance early next week.
Summary
The Dow closed the day with a nice gain, but was not able to confidently break above the 13,400 level, which may be an early indication of weakness heading into next week. Look for the index to bounce around between 13,200 and 13,450 before another breakout try occurs.
- The NASDAQ and S&P closed the day with gains, but sold off mildly into the Close. Each index continues to remain near the week's highs, but watch resistance early next week.
Summary
The Dow closed the day with a nice gain, but was not able to confidently break above the 13,400 level, which may be an early indication of weakness heading into next week. Look for the index to bounce around between 13,200 and 13,450 before another breakout try occurs.
Read More...
