Steady Decline..
Dow drops from session's highs, remains within large trading range.
The Dow opened the day testing the 12,400 level this morning, but was not able to hold above this zone, which essentially sparked a heavy decline the rest of the day, as seen in the 15 Minute Chart. The Dow dropped 293 points on the session after rallying big yesterday, which means traders are not ready to commit to direction just yet.
The Daily and 60 Minute Charts show the Dow continues to wind up within a large trading range that spans the first three months of the year. The market has been indecisive when testing waters outside of this range, which means more range movement is likely. Until the Dow can break and hold above 12,800 or below 11,700, further range movement should be expected.
Dow drops from session's highs, remains within large trading range.
The Dow ended the day at highs after rallying over 600 points in the last two days. The Dow could be on the verge of much more strength, but we will need to watch 12,400 for signs of confirmation..." 
The Dow opened the day testing the 12,400 level this morning, but was not able to hold above this zone, which essentially sparked a heavy decline the rest of the day, as seen in the 15 Minute Chart. The Dow dropped 293 points on the session after rallying big yesterday, which means traders are not ready to commit to direction just yet.
The Daily and 60 Minute Charts show the Dow continues to wind up within a large trading range that spans the first three months of the year. The market has been indecisive when testing waters outside of this range, which means more range movement is likely. Until the Dow can break and hold above 12,800 or below 11,700, further range movement should be expected.
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