Market Overview

BTDStocks.com Friday, October 22, 2010 End-Of-Day Update

A mixed bag in the stock market today. The broader market was relatively quiet while the Nasdaq Composite (QQQQ) gained 0.8% on light accumulation due to earnings from technology companies. Semiconductor related stocks as measured through the Semiconductor Holders (SMH) outperformed with a 1.3% on low volume. It is fair to say institutions were not very active today. The Volatility Index (VIX) fell 2.5% on a small increase in the S&P 500 (SPY) to the lowest level since the current stock market direction uptrend began in early September. We have no changes in the support/resistance levels for the DJIA (DIA), S&P 500, and Nasdaq Composite. The prudent approach right now continues to be not to open new positions, take profits, and limit losses.

SUMMARY

DJIA: Down 0.1% to 11,133

S&P 500: Up 0.2% to 1,183

Nasdaq Composite: Up 0.8% to 2,479

BREADTH FOR NYSE

Advancing Issues: 1,802

Declining Issues: 1,196

Advance/Decline Ratio: 2 to 1

New Highs: 101

New Lows: 3

High/Low Ratio: 34 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 10,979/11,147

S&P 500: 1,166/1,185

Nasdaq Composite: 2,437/2,481

SECTOR ANALYSIS

Energy was the best performing sector up 0.7% while materials was the worst performing sector down 0.7%.

Other Sectors:

Consumer Discretionary up 0.6%

Consumer Staples up 0.4%

Financials Flat

Healthcare Flat

Industrials Flat

Technology up 0.3%

Utilities down 0.7%

www.btdstocks.com

Posted-In: Intraday Update

 

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