Thursday, August 09, 2012

Daily Market Commentary: Consolidation Part Deux

In almost a repeat of yesterday, semiconductors made the most of a quiet day, but other indices traded within very narrow ranges.  Volume light across all indices, including the Nasdaq 100.  The outlook remains the same; Nasdaq 100 and Dow at resistance and perhaps the indices most likely to retreat first.

Will tomorrow see a change? Swing trades will appreciate the narrow action; coiling tension for the next big move.

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