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Friday, September 23, 2011 Stock Market Performance

|Includes:GLD, QQQ, SLV, SLW, SPRD, SPDR S&P 500 Trust ETF (SPY), TLT, USO, UUP, XLB, XLE, XLI, XLK, XLY
  • After yesterday's brutal sell-off stocks rose with the indices gaining at least 0.4% today palpable to the prior session's losses.
  • The broader SP 500 $SPX $SPY support level moved up slightly from 1,128 to 1,130 while resistance remains the same at 1,150.
  • The support/resistance levels for the Nasdaq Composite $COMPX $QQQ moved higher from 2,381 to 2,470 and from 2,468 to 2,483.
  • SP 500 and Nasdaq Composite remain below their moving averages (21, 50, 200).
  • SP 500 did not test its August closing low of 1,119 in today's session.
  • Nasdaq Composite continues to have an open gap down to 2,537.
  • $XLY $XLK $XLI rose 1% plus on moderately heavier volume while $XLE was down 1.1% on moderately heavier volume.
  • $XLB was down slightly on moderately heavier volume.
  • Silver $SLV and gold $GLD were down heavy 14.2% and 5.5% on heavy volume.
  • The US Dollar $UUP was down 0.3% on heavy volume.
  • Oil $USO was slightly down on volume that was moderately heavier.
  • Bonds $TLT were down 1.9% on below average volume.
  • $SLW was down 8.9% on heavier volume.
  • $SPRD was down 3.3% on lower volume.
  • Based on stocks I follow the stock market direction is neutral and has been active 1 trading session.
  • The stock market direction was bearish two sessions this week and neutral the other three sessions.
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Stocks: SPY, QQQ, XLY, XLK, XLI, XLE, XLB, SLV, GLD, UUP, USO, TLT, SLW, SPRD