Once again, bond yields on the 10 and 30 year U.S. Treasury Note are rising. Last week, the yields jumped sharply higher by more than 25 basis points on both the 10, and 30 year note. Higher rates will affect the important mortgage market and this could be problematic to the recent inflation rally.
Twelve For '12: Sector ETFs to Watch In The New Year
Monday, September 26, 2011 Stock Market Performance
•Stocks bounced between gains and losses early in today's session but by the close the major indexes rose at least 1.4% each.
•SP 500 $SPX $SPY support/resistance moved up from 1,130 to 1,154 and 1,150 to 1,165.
•Support/resistance on the Nasdaq Composite $COMPX $QQQ rose to 2,483 from 2,470 and 2,536 from 2,483.
•Semiconductor Index $SOX $SMH lagged down 0.1%.
Thursday, September 22, 2011 Stock Market Performance
•Stocks declined heavy again with major indexes down at least 3.2% each today.
•SP 500 $SPX $SPY support/resistance moved down from 1,165 to 1,128 and 1,173 to 1,150.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,531 to 2,381 and resistance moved lower from 2,549 to 2,468.
•SP 500 and Nasdaq Composite are now both below their moving averages (21, 50, 200).
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).
Tuesday, September 20, 2011 Stock Market Performance
•Major indexes were up at least 1.1% each but reversed course and gave up their gains finishing in a range up 0.1% to down 0.9%.
•SP 500 $SPX $SPY support/resistance moved down from 1,204 to 1,199 and 1,217 to 1,204.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,602 to 2,580 and resistance moved lower from 2,616 to 2,598.
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
Brett's Stock Market Pulse Monday, May 31, 2011 (Major Indexes Rise For Fourth Stra
Upon returning from a three day weekend stocks continued where they left off from last week to finish out the month of May with gains ranging between 1% to 1.4% on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ). The Nasdaq Composite led the advance. The market was able to do this by shaking off mostly bad economic data as participants bid up share prices.
Brett's Stock Market Pulse Thursday, May 26, 2011 (Indexes Trade Up and Find Resistance at 50-Day Moving Averages)
The market finished higher for the second straight session with the Nasdaq Composite (QQQQ) leading the way with a 0.8% gain. The gains on the broader S&P 500 (SPY) index were smaller rising 0.4% and the DJIA (DIA) marginally rose hurt by the performances of Home Depot (HD), Intel (INTC), and Merck (MRK). The indices finished in the upper end of their trading range.