Tuesday, April 01, 2008

Daily Market Commentary
Courtesy of Nirvana Systems

Updated Monday, 3/31 for Tuesday's market.

Key DOW Levels for 4/1


Above 12,650



Bounce within Channel...

- The Dow bounces from 12,200, gains 46 points. The index closed the day between 12,200 and 12,300 and now sits just beneath the top of the six-day channel, which we will continue to watch for near-term direction.

- The NASDAQ and S&P each mirrored the Dow today, as each remained within their respective channels near the center of the overall trading range. Watch the clear fulcrums for direction ahead.


The Dow continues to hold within the boundaries of the downtrending channel. A breakout from this channel could offer an early clue on direction within the overall trading range. Watch this pattern closely.


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