brettstockblog's Blog : BTDStocks.com Monday, October 25, 2010 End-Of-Day Update

The stock market started out strong today but by the end of the session gave up most of the gains. The DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) rose and closed above the resistance levels we identified on Friday. Therefore, we have slightly adjusted the resistance levels up for all three indexes (see below). The Volatility Index (VIX) continues to look like it is trying to make a bottom (see chart below). We would not be surprised to see volatility pickup and for stocks to consolidate the run-up it has had without a significant pullback. Also, the Semiconductor Holders (SMH) rose again on very light volume. The prudent approach remains to not open new positions, take profits, and limit losses.

SUMMARY

DJIA: Up 0.3% to 11,164

S&P 500: Up 0.2% to 1,186

Nasdaq Composite: Up 0.5% to 2,491

BREADTH FOR NYSE

Advancing Issues: 1,817

Declining Issues: 1,208

Advance/Decline Ratio: 2 to 1

New Highs: 277

New Lows: 6

High/Low Ratio: 46 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 11,133/11,167

S&P 500: 1,166/1,186

Nasdaq Composite: 2,437/2,499

SECTOR ANALYSIS

Materials was the best performing sector up 2.2% while financials was the worsperforming sector down 0.4%.

Other Sectors:

Consumer Discretionary up 0.6%

Consumer Staples up 0.2%

Healthcare up 0.5%

Industrials up 0.3%

Technology up 0.3%

Utilities down 0.2%

www.btdstocks.com