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Provides daily commentary and analysis on the direction of the stock market each trading day.
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  • BTDStocks.com Wednesday, October 13, 2010 End-Of-Day Update 0 comments
    Oct 13, 2010 8:52 PM | about stocks: DIA, SPY, QQQ, ARRS, MCRL

    Stocks traded today's entire session in positive territory and finished off the highs in the middle of the day's trading range. We must respect the trend and increase the resistance levels on the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) to 11,117, 1,182, and 2,454, respectively. One thing to point out the Volatility Index (VIX) open lower was .02 off the low for the day and rose throughout the day to 19.07 near the high of 19.16. We have been pointing recently how complacency has been building in the market. Today's action may indicate a short term bottom in the VIX. If so, then volatility may pick up and a correction to the stock market direction uptrend could occur. As we have been saying it is best limit or not put cash to work in new positions, take some profits, and cut losses.  

    SUMMARY

    DJIA: Up 0.7% to 11,096

    S&P 500: Up 0.7% to 1,178

    Nasdaq Composite: Up 1.0% to 2,441

    BREADTH FOR NYSE

    Advancing Issues: 2,300

    Declining Issues: 759

    Advance/Decline Ratio: 3 to 1

    New Highs: 375

    New Lows: 0

    High/Low Ratio: N/A

    SUPPORT/RESISTANCE LEVELS

    DJIA: 10,949/11,117

    S&P 500: 1,158/1,182

    Nasdaq Composite: 2,384/2,454

    STOCKS TO WATCH FOR TOMORROW

    Arris Group Inc.

    Symbol: ARRS

    Stocks with potential upside:

    Comments: (NASDAQ:ARRS) was up 2.6% on heavier volume today.

    Stocks with potential downside:

    Micrel Inc.

    Symbol: MCRL

    Comments: (NASDAQ:MCRL) was down 2.2% on heavier volume today.

    www.btdstocks.com



    Disclosure: No positions
    Stocks: DIA, SPY, QQQ, ARRS, MCRL
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