BTDStocks.com Friday, March 4, 2011 End-of-Day Update
Stocks overlooked decent economic data today to finish lower. The selling could have been worse but late in the session stocks were able to come off their lows. Market breadth was negative but participation did not give an indication investors were selling shares heavily. Staying with the trend we are lowering the support/resistance levels on the DJIA (DIA) and S&P 500 (SPY) (see below).
BTDStocks.com Thursday, March 3, 2011 End-of-Day Update
Stocks rallied today with the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) gaining 1.6%, 1.7%, and 1.8%, respectively. The major indexes closed near session highs. Market breadth was good. However, investor participation was lighter in today's session compared to the three strong selloff sessions we have had in the last eight trading sessions.
BTDStocks.com Wednesday, March 2, 2011 End-of-Day Update
Marginal gains on low investor activity were the theme today. Market breadth was ok. The support/resistance levels are basically the same on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) (see below). However, we are raising the support on the Nasdaq Composite (see below). The recent trend has been when the market declines investors have been selling shares.
BTDStocks.com Tuesday, March 1, 2011 End-of-Day Update
Today's session saw a selloff in stocks of at least 1.4% in the major indexes. The DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) closed near their session lows. Investor participation confirmed the selling and market breadth turned negative. As a result, we are lowering the support/resistance levels on the DJIA, S&P 500, and Nasdaq Composite (see below).
BTDStocks.com Monday, February 28, 2011 End-of-Day Update
For the second session in a row stocks advanced with the DJIA (DIA) and S&P 500 (SPY) gains broader than the Nasdaq Composite (QQQQ). In fact, the Nasdaq Composite reversed most of its early gains to finish basically flat. Investor participation has picked up over the last few sessions and market breadth was good today.
BTDStocks.com Friday, February 25, 2011 End-of-Day Update
After some strong selling in the prior sessions stocks notched strong gains today. The S&P 500 (SPY) and Nasdaq Composite (QQQQ) were able to close above the resistance levels we recently outlined. Market breadth was good. However, diving under the surface indicated investor participation was not strong and investors might have been using strength to sell shares rather than accumulate them.
BTDStocks.com Thursday, February 24, 2011 End-of-Day Update
Today was a volatile session in the market with the major indexes finishing mixed. Investor participation eased somewhat and market breadth was neutral overall. At some points in today's session stocks appeared destined for another day of brutal selling. However, the market was able to show resilience and rebound somewhat.
BTDStocks.com Wednesday, February 23, 2011 End-of-Day Update
BTDStocks.com Tuesday, February 22, 2011 End-of-Day Update
The market returned from the long weekend and experienced a strong selloff with the S&P 500 and Nasdaq Composite declining 2.1% and 2.7%, respectively. The DJIA was down less but still finished lower by 1.4%. Investor participation confirmed the selling pressure and market breadth was very bad.
BTDStocks.com Friday, February 18, 2011 End-of-Day Update
The market opened the session quiet and then built some steady gains by mid-day only to seesaw back and forth late in the day to finish with mild gains. The action was the typical type of action you see on an options expiration day. Investor participation picked up but market breadth was negative.