Monday, July 07, 2008

Daily Market Commentary
Courtesy of Nirvana Systems

Updated Thursday, 7/3 for Monday's market.

Key DOW Levels for7/7


Above 11,450


Below 11,150

Still Consolidating....

- The Dow reverses from early lows, builds out within clear consolidation. The index remains within the clear consolidation, which we will continue to watch closely next week.

- The NASDAQ and S&P each remain within their respective consolidation patterns, which we will continue to follow next week.


The Dow closed the day within the boundaries of the clear consolidation range, which we will watch for direction next week. A breakout from this pattern should spark the next big directional move.


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