Monday, July 07, 2008

 
Daily Market Commentary
Courtesy of Nirvana Systems

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

Key DOW Levels for7/7

UP

Above 11,450

DN

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.

Summary

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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