The major indexes spent the entire session today in negative territory and saw the selling pick up during the last hour of trading.
Like in yesterday's session the Nasdaq Composite performed the worst finishing down 2.6% along with Semiconductor stocks down 3.4%.
The DJIA and SP 500 did not perform much better down 2.2% and 2.5%, respectively.
Friday, September 23, 2011 Stock Market Performance
•After yesterday's brutal sell-off stocks rose with the indices gaining at least 0.4% today palpable to the prior session's losses.
•The broader SP 500 $SPX $SPY support level moved up slightly from 1,128 to 1,130 while resistance remains the same at 1,150.
•The support/resistance levels for the Nasdaq Composite $COMPX $QQQ moved higher from 2,381 to 2,470 and from 2,468 to 2,483.
Wednesday, September 21, 2011 Stock Market Performance
•Stock sold off hard with major indexes down at least 2% each.
•SP 500 $SPX $SPY support/resistance moved down from 1,199 to 1,165 and 1,204 to 1,173.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,580 to 2,531 (21 day moving average)-resistance moved lower from 2,598 to 2,549.
•SP 500 is once again below its moving averages (21, 50, 200).
Our stock market direction ratings are: 1) Short Term: Bearish; 2) Long Term: Bearish...Moving support/resistance levels higher for DJIA (12,076/12,202), S&P 500 (SPY) (1,288/1,297), and Nasdaq Composite (QQQ) (2,679/2,687)...DJIA (DIA) closes slightly above 21 day moving average-S&P 500 resistance level is 21 day moving average at 1,297 (tried to get above it today)...Nasdaq Composite back above
Brett's Stock Market Pulse Friday, May 27, 2011 (Market Indexes Close Above 50-Day Moving Averages In Pre-Holiday Session)
Stocks traded positive for the entire session today (except the DJIA was negative for a short period of time) on pre-holiday type investor participation. Gains on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) ranged between 0.3% to 0.5%. The leader today was the Semiconductor Index (SOX) which rose 1.1%.
Brett's Stock Market Pulse Friday, May 13, 2011 Update (Toeing The 21-Day Moving Averages)
short: LCC overbought on resistence, UYM bearish engulifing double top
LCC hitting resistence with a red dark clould candle above the upper bollinger band. Shorting below yesterday's low
LCC short: sell stop 8.95, stop loss 9.11, target 8.41
UYM (leveraged basic material ETF): bearish enguling double top, and stochastic crossover. Markets are poised for a correction, shorting market.
UYM short: sell market, stop loss 59.25, target 54.04
BTDStocks.com Thursday, December 2, 2010 End-Of-Update
The stock market had another nice day in terms of price action with the major indexes all posting gains of 1% or higher. Breadth was strong again (not like when the rally began in March 2009-could indicate a late stage bull market) but volume figures are making it difficult to determine if the resumption of the rally is for real or just a head fake.
BTDStocks.com Wednesday, December 1, 2010 End-Of-Day Update
As we have been suggesting the recent stock market consolidation has been constructive enough that we have reframed from calling it a correction. One reason for our thesis is the Semiconductor Index (SOX) has remained strong and outperformed the broader market during the consolidation phase. Good economic data today propelled stocks significantly higher.