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BTDStocks.com Wednesday, November 3, 2010 End-Of-Day Update

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), QQQ, SPY, VIXX

The stock market saw some volatility after the FED announcement (a decision that will probable hurt the economy long term) today and finished up in a session that had some slight meat behind it.  We have adjusted the resistance levels on the DJIA (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) up but we left it alone for the Nasdaq Composite (see below).  However, we raised the support level on the Nasdaq Composite (QQQQ) (see below).  Even though the gains were all below 0.5% the Volatility Index (VIX) fell significantly down 9.3%.  In itself this show investors were happy with today's gains in stocks.  By looking at it technically this was the third time the VIX tried to rise above its 50-day moving average unsuccessfully.  As a results, it may need some more downside testing (and perhaps to make a new marginal low since the stock market direction uptrend began in early September).  We continue to believe the prudent approach is to not open new positions, keep taking profits, and cut losses based on how far the market has run without a meaningful pause.

SUMMARY

DJIA: Up 0.2% to 11,215

S&P 500: Up 0.4% to 1,198

Nasdaq Composite: Up 0.3% to 2,540

BREADTH FOR NYSE

Advancing Issues: 1,721

Declining Issues: 1,296

Advance/Decline Ratio: 1.3 to 1

New Highs: 205

New Lows: 5

High/Low Ratio: 41 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 11,144/11,221

S&P 500: 1,185/1,198

Nasdaq Composite: 2,505/2,541

SECTOR ANALYSIS

Financials was the best performing sector up 1.0% while materials was the worst performing sectors down 0.3%.

Other Sectors:

Consumer Discretionary up 0.5%

Consumer Staples up 0.3%

Energy Up 0.2%

Health Care Up 0.1%

Industrials Up 0.2%

Technology Up 0.6%

Utilities Down 0.2%

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Disclosure: No positions