Alles darunter ist bärisches Gebiet.
| Updated 6/10 for Monday's market. |  | ||||||||||||||||
SidewaysDow trades sideways in slow session.The markets will be closed tomorrow, June 11th, in observance of the passing of President Ronald Reagan. - SW Team From prior commentary, "...if the Dow can hold above 10,300, we could see a larger trading range form at the highs over the next few sessions..." The Dow held firmly above 10,350 today, as the index traded slowly sideways the entire session. The index pushed higher just before the Close, ending the day higher by 42 points, as seen in the 15 Minute Charts. Look for the Dow to continue holding above the key 10,350 level, as the index holds within the current consolidation range. An upside break from the range at 10,440 will indicate another push higher in the medium term. However, should the Dow break the clear lower trend line at 10,350, seen in the 60 Minute Chart, we can expect a move lower, especially if 10,300 is violated. Short Term Dow Short term, the Dow ended the day right at short term resistance at 10,410, seen in the 5 Minute Chart. Watch for weakness below this level, unless an upside break occurs. Medium Term Dow In the medium term, we entered the market Long this morning at 10,400, but stopped out with a 20 point loss. We are now out of the market and will watch 10,440 up, and 10,350 down, using 20 point stops. NASDAQ & S&P The S&P and NASDAQ each traded slowly sideways today, edging higher for the day. Look for continued sideways movement until a solid break from the range occurs. * Summary The Dow ended the day higher today after trading slowly sideways throughout the session. The Dow has formed a range at the highs, which implies strength, but a break either way could provide a nice spark. Watch 10,440 up, and 10,350 down tomorrow. Thanks for listening, and Good luck in your trading.. Ed Downs with assistance from.. ** Note: We are now posting Index entries and exits in Real Time, through our new Intraday Index Alerts service. To learn more about the service, visit SignalWatch.com and select Intraday Alerts from the main navigation bar. - SW Team _________________________ |
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