Tuesday, September 16, 2008

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Monday, 9/15 for Tuesday's market.

Key DOW Levels for7/7

UP

None

DN

Below 10,800


Major Sell-Off....

- The Dow reverses from early lows, builds out within clear consolidation. The index pushed lower throughout the day and eventually closed the session with a loss of 504 points.

- The NASDAQ and S&P each opened the day with bearish movement this morning and eventually closed at the day's lows. Look for more overall weakness ahead.

Summary

The Dow ended the day sharply lower after breaking back below 11,400 en route to closing beneath 11,000 for the first time in several months. Look for a potential test of the July lows ahead.

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