Tuesday, January 08, 2008
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Monday, 1/7 for Tuesday's market.
Consolidating...
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Courtesy of Nirvana Systems
Updated Monday, 1/7 for Tuesday's market.
| Key DOW Levels for 1/8 | |
| UP | None |
| DN | Below 12,700 |
Consolidating...
- Dow trades back and forth at lows, builds out consolidation. The Index closed the day just above 12,800 and has now built out a clear consolidation range at lows after gaining 27 points. Watch this range tomorrow.
- The NASDAQ and S&P each held near lows today, building out clear consolidations throughout the day. Look for more range movement until these ranges are violated.
Summary
The Dow closed the day with a nice bounce from lows to end the day with a gain. However, the index is now consolidating at lows within another bearish consolidation. Watch 12,730 and 12,900 for signs of direction tomorrow.
- The NASDAQ and S&P each held near lows today, building out clear consolidations throughout the day. Look for more range movement until these ranges are violated.
Summary
The Dow closed the day with a nice bounce from lows to end the day with a gain. However, the index is now consolidating at lows within another bearish consolidation. Watch 12,730 and 12,900 for signs of direction tomorrow.
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