We are lowering the support/resistance levels on the DJIA (DIA) (12,480/12,570), S&P 500 (SPY) (1,316/1,331), and Nasdaq Composite (QQQ) (2,800/2,815)...The S&P 500 slightly went below its 50-day moving average of 1,316.44 to 1,316.42 and closed above it at 1,319.49...The DJIA and Nasdaq Composite are 130 and 40 points above their respective 50 day moving averages...The selloff was not unexpected

The action today has increased the support/resistance levels on the S&P 500 (SPY) (1,345/1,357)/Nasdaq Composite (QQQ) (2,872/2,874) but has the levels the same on the DJIA (DIA) (12,605/12,760)...Each of the three indexes was up at least 0.7%...A few interesting things to note underneath the hood of the stock market direction from a sector perspective today-defensive sector Utilities traded the m

The stock market direction action from today resulted in a mixed bag for the major indexes support/resistance levels...For the DJIA (DIA) (12,570/12,583) the support/resistance levels are slightly lower, support is the same and resistance down 3 points on the S&P 500 (SPY) (1,336/1,340), support/resistance for the Nasdaq Composite (QQQ) (2,823/2,834) is actually higher...From a technical perspecti