Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Monday, March 28, 2011 End-of-Day Update

|Includes:AAPL, AGO, CCJ, CSCO, SPDR Dow Jones Industrial Average ETF (DIA), EUO, FDO, NUAN, PSQ, RWM, SH, SPY, UUP

The market spent a good amount of the trading session in positive territory only to give up those gains and close lower by the end of the session.  Market breadth was generally on the negative side and investors were not favoring the stock market in either direction.  The action today was enough for us to lower the resistance levels for the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) (see below).  We are also lowering the support levels on the DJIA and Nasdaq Composite (see below).  We are keeping the support level on the S&P 500 the same at 1,310.  The DJIA and S&P 500 remain above their respective 21-day and 50-day moving averages.  The Nasdaq Composite remains above its 21-day moving average but keeps finding resistance at its 50-day moving average.  The reversal action to the downside today was enough to lift some of the complacency the stock market direction has built up.  The Volatility Index (the VIX) rose 8.5% to 19.44 and is back above its 50-day moving average.  As we have been saying aggressive investors should buy shares slowly so if the market decides re-test the recent lows the damage to your portfolio will be minimal.  If you need to own stocks, please see our watch list below.  In our watch list today we added additional positions intra-day in the ProShares Short S&P Fund (symbol: SH) at $41.49, the ProShares Short QQQ Fund (symbol: PSQ) at $32.83, and Short Russell 2000 Fund (symbol: RWM) at $30.08. We now have three active positions in each of these ETFs in our watch list.  
No positions in securities mentioned.