A Daily Swing Trade

- Dow reverse from early lows, trends slowly and steadily higher to the Close. The Index has been very reluctant to show bullish strength from lows despite rallying from the 12,500 level. The Dow finally crossed above the 13,400 level and pushed higher into the Close, eventually ending the day with a nice gain of 91 points. The Dow is now back at the major 13,500 fulcrum, which is the next key level to watch for direction.

- The NASDAQ led the broader market higher today and continues to push above key resistance levels, which indicates more strength ahead. Look for signs of a continuation pattern in the both the NASDAQ and S&P.

Summary

The Dow closed the day with a nice gain after trending steadily higher through most of the session. The index has broken above the major upper trend line, which indicates much more strength ahead. However, 12,500 may be a key test.