Stocks finished up today with the DJIA, S&P 500, and Nasdaq Composite each rising approximately 0.2% on mixed volume.
The day started out rough with the Nasdaq Composite down as much as 0.9%.
But eventually stocks were able to recover their losses.
This was the type of activity to expect the day before an important economic report is due to be released.
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.
Today the stock market indexes were able to close with fractional gains or small losses.
Not a bad sign after stocks have had a nice rally so far this week.
Dow Jones Industrial Average (DIA)
The Dow Jones Industrial Average ($INDU) finished basically flat and held above the psychological 12,000 level. In fact it never even tested 12,000 intra-day.
S&P 500 (SPY)
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).
BTDStocks.com Thursday, January 27, 2011 End-of-Day Update
The major indexes had mixed results today as the Nasdaq Composite (QQQQ) led with a 0.6% gain while the S&P 500 (SPY) closed right at 1,300 and the DJIA (DIA) was flat unable to close above the 12,000 level. Participation from investors was ok but underneath the hood market internals are showing signs that the stock market needs a break.
BTDStocks.com Wednesday, January 26, 2011 End-Of-Day Update
The major indexes finished today with returns ranging from 0.1% to 0.7% with the S&P 500 hitting a two year high. Both investor participation and market breadth were good and we guess the market liked what was said from the President and Federal Reserve so far. Not sure we learned anything new from either party.
BTDStocks.com Tuesday, January 25, 2011 End-Of-Day Update
Stocks appeared to be headed for a material down day but were able to regain their footing in uneven trade to finish mostly flat in the session. Investor participation was strong and market breadth was ok. U.S. investors have a speech from the President tonight and some statements from the Federal Reserve tomorrow to digest before making their next moves.
BTDStocks.com Monday, January 24, 2011 End-Of-Day Update
Stocks finished higher today with the major indexes closing near session highs. In addition, the DJIA posted another new high. Investor participation was ok and market breadth was good. As a result, we are raising the support levels on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) (see below).