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  • Tuesday, April 19, 2011 End-of-Day Update  0 comments
    Apr 20, 2011 1:32 AM | about stocks: DIA, SPY, SH, PSQ, RWM, UUP, EUO, AAPL, FDO, CSCO, CCJ, TLT, TIP, VXX

    Stocks rose today without strong investor participation. Market breadth was better than Monday's session. However, the fire power from institutional investors was lacking in Tuesday's session. This might have been due to Passover as many market participants were off for the holiday. Keeping with the trend we are raising the support/resistance levels on the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) (see below). The DJIA remains above its 50-day moving average but below its 21-day moving average. The S&P 500 and Nasdaq Composite remain below their respective 21-day and 50-day moving averages. Investor complacency remains very high and volatility low. This type of environment makes the market prone to pullbacks in the near future. There still seems to be a very number of investors who are bearish. Staying with the the current stock market direction be careful when opening new stocks positions, protect profits, and limit losses. If you need to own stocks, please see our watch list below. In our watch list today we added an additional position in the iPath S&P 500 VIX Short-Term Futures ETN (symbol: VXX) at the intra-day price of $26.72. We now have two positions in VXX in our watch list.
    No positions in securities mentioned.

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