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March 10, 2011
Share ThisThe market declined significantly today with investors selling shares heavily. Market breadth was clearly negative. As a result, we are lowering the support/resistance levels on the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) (see below). The DJIA and S&P 500 are now below the 12,000 and 1,300 mental levels, respectively. The S&P 500 did close at its support level of 1,295. Overall, as we have been saying defense remains the smart move right now based on the stock market direction. Let the market build a new base before putting the majority of your money to work. However, we are seeing some stand still patterns that indicate the market is at a cross road. In other words, the market could go either up or down from here. If you need to own stocks, please see our watch list below. To read full article, please visit: www.btdstocks.com/No positions in securities mentioned
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