A Daily Swing Trade

- The Dow opened the day up slightly, before trending lower throughout the day. The index fell through support at 12,250 and repeated attempts to retake this level failed, as seen in the 15 Minute Chart. The Dow closed the day at 12,203, near intraday lows.

- The NASDAQ and S&P both lost ground. Watch for the Dow to lead these indices in the week ahead, as traders look to the Dow for direction.

Summary

The Dow closed the day down as traders tried to decide whether this weeks huge reversal has legs.