After hitting a correction low in March, the buying dips mentality held and stocks rallied to new 2011 highs. The upswing was contained within an ascending channel; however, yesterday the bottom levy gave way and selling has poured over, collecting at the 50 day-average for the NASDAQ and S&P 500.
BTDStocks.com Thursday, May 12, 2011 End-of-Day Update
With the major indexes opening today's session down and things looking grim stocks staged a recovery and were able to reverse decent losses and finish higher with mild gains. Market breadth was generally positive but investor participation did not indicate the positive reversal had strong backing behind it.
BTDStocks.com Wednesday, May 11, 2011 End-of-Day Update
The bears had control of the stock market today as each of the major indexes declined at least 0.9%. Today's action was reminiscent of the type of trading we saw last week with investor selling pressure strong in down sessions. In contrast, during recent up day's buying from investors has been weak. Market breadth was weak today.
BTDStocks.com Tuesday, May 10, 2011 End-of-Day Update
Stocks rose today with each of the major indexes gaining at least 0.5%. The DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) all closed near their session highs. In addition, both the S&P 500 and Nasdaq Composite spent the entire session in positive territory while the DJIA was only slightly negative at one point during today's trading session.
BTDStocks.com Monday, May 9, 2011 End-of-Day Update
The stock market rose today with the major indexes gaining between 0.4% and 0.6% and was able to shrug off some bad economic news on both the U.S. and international front. Trading activity was calm and didn't indicate investors were buying shares strongly. Market breadth was mostly on the positive side.
BTDStocks.com Friday, May 6, 2011 End-of-Day Update
BTDStocks.com Thursday, May 5, 2011 End-of-Day Update
The general stock market declined once again for the fourth straight session on the S&P 500 (SPY) and Nasdaq Composite (QQQQ). Market breadth was negative and the action of investors showed them selling energy based shares and light crude oil declining over 9% to finish at approximately $99 after recently trading near the $115 area.
BTDStocks.com Wednesday, May 4, 2011 End-of-Day Update
Stocks declined for the third session in a row as the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) lost 0.7%, 0.7%, and 0.5%, respectively in a session that saw investors once again booking some of their profits. Market internals were negative and the action in many individual stocks was not very good.
BTDStocks.com Tuesday, May 3, 2011 End-of-Day Update
For the second session in a row stocks saw declines. The main difference between today's session and the prior session was market activity indicated investors were taking some of their profits off the table today. The Nasdaq Composite (QQQQ) saw the biggest declines out of the three major indexes as it fell 0.8%.