A Daily Swing Trade

- Dow breaks to new lows, but trades sideways the remainder of session.


From prior commentary, "...The Dow has held firmly within the boundaries of 12,500 and 12,930 over the last eight days and could continue to build out within this range. However, a breakout will likely unleash a huge move, so watch these boundaries closely..."

The Dow opened the day with an early decline this morning, as the index broke through the 12,500 level en route to steady selling to the 12,417 level, as seen in the 15 Minute Chart. The index then bounced from lows and rallied 200 points before finally ending the day with a loss of about 35 points.