BTDStocks.com Thursday, February 10, 2011 End-Of-Day Update
BTDStocks.com Wednesday, February 9, 2011 End-Of-Day Update
After being on a roll since two Friday's ago the market saw its first day of material declines. The declines in terms of percentages was not large but the under the hood the action suggested investors were taking some profits off the table. Market breadth was negative. The Semiconductor Index (SOX) was weak for the third session in a row and has been retracing the gains it made on Monday.
BTDStocks.com Tuesday, February 8, 2011 End-of-Day Update
Stocks turned early losses into gains into today's session. The major indexes now sit at new two or three year highs. Market breadth was decent and investor participation was ok. The risk trade was on today with the consumer discretionary sector leading the way and utilities lagging.
BTDStocks.com Monday, February 7, 2011 End-Of-Day Update
The market had another up session today but the major indexes finished off their highs for the day. Market breadth was good but participation was disappointing and did not indicate investors were accumulating shares. The market is continuing to gravitate toward risk with financials strong today and healthcare/consumer staples weak.
BTDStocks.com Friday, February 4, 2011 End-Of-Day Update
The stock market advanced today even though the jobs report came in below expectations. The unemployment rate declined from 9.4% to 9.0% but this was due to people leaving the workforce. The major indexes all closed at new highs and the Nasdaq Composite which has recently been struggling at the 2,755 level was able to close above its recent high of 2,766 to make a new high at 2,769.
BTDStocks.com Thursday, February 3, 2011 End-Of-Day Update
Stocks had a weak open with the Nasdaq Composite down as much as 0.9% intra-day. By the close the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) each finished up 0.2% on mixed participation from investors. The basically flat close is what you would expect to see the day before a key economic report. Tomorrow morning at 8:30 we get the U.S. jobs report from the government.
BTDStocks.com Wednesday, February 2, 2011 End-Of-Day Update
Stocks spent most of today's session digesting the gains from this week. Investor participation was quiet and market breadth in general was neutral. As we mentioned in last night's post the Nasdaq Composite (QQQQ) is lagging the DJIA (DIA) and S&P 500 (SPY). In today's session the Nasdaq Composite flirted with trying to take out the 2,755 level for the second session in a row.
BTDStocks.com Tuesday, February 1, 2011 End-Of-Day Update
Stocks marched higher today with both the DJIA (DIA) and S&P 500 (SPY) making new highs and closing above their respective emotional levels of 12,000 and 1,300. The Nasdaq Composite (QQQQ) did not make a new high and is currently sitting below its resistance level of 2,755 and recent high of 2,766.
BTDStocks.com Monday, January 31, 2011 End-Of-Day Update
Today the DJIA (DIA) gained 0.6% versus its 1.4% loss on Friday, the S&P 500 (SPY) gained 0.8% versus its 1.8% loss on Friday, and the Nasdaq Composite (QQQQ) gained only 0.5% versus its 2.5% loss on Friday. The gains today did not recoup half of the losses on Friday and the buying pressure today was less than the selling pressure on Friday.
BTDStocks.com Friday, January 28, 2011 End-Of-Day Update
Stocks declined significantly today with investors dumping shares heavily. Market breadth was horrid and some support levels were breached. We are lowering the support levels on the S&P 500 (SPY) and Nasdaq Composite (QQQQ) (see below). The resistance levels on the S&P 500 (lowering one point) and Nasdaq Composite are basically the same (see below).