brettstockblog's Blog : BTDStocks.com Wednesday, October 27, 2010 End-Of-Day Update

Once again stocks had a rough beginning and eventually recovered alot of the losses lead by technology (XLK) stocks. The Nasdaq Composite (QQQQ)was lead by the Semiconductor stocks as the Semiconductor Holders (SMH) gained 2.2% however on low volume and has gained 2.8% on a weekly basis also on low volume. The stock market direction has been choppy and looking at the internals the DJIA (DIA) and S&P 500 (SPY) saw profit taking today that is worth noting. The Volatility Index (VIX) was up as much as 10.6% today indicating investors were nervous but backed off finding resistance at its 50-day moving average to finish up 2.4%. The prudent approach continues to be not to open new positions, take profits, and limit losses.

SUMMARY

DJIA: Down 0.4% to 11,126

S&P 500: Down 0.3% to 1,182

Nasdaq Composite: Up 0.2% to 2,503

BREADTH FOR NYSE

Advancing Issues: 1,035

Declining Issues: 1,959

Advance/Decline Ratio: .5 to 1

New Highs: 63

New Lows: 11

High/Low Ratio: 6 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 11,108/11,144

S&P 500: 1,180/1,185

Nasdaq Composite: 2,437/2,505

SECTOR ANALYSIS

Technology was the best performing sector up 0.3% while materials was the worst performing sector down 0.9%.

Other Sectors:

Consumer Discretionary down 0.6%

Consumer Staples down 0.5%

Energy up 0.4%

Financials up 0.1%

Healthcare down 0.6%

Industrials down 0.7%

Utilities down 0.4%

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