Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Wednesday, November 10, 2010 End-Of-Day Update

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), QQQ, SPY, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY

Early on today it appeared the market was going to have another material selloff but staged a comeback in the afternoon.  However, the gains didn't show strong participation from investors.  Once again, we are leaving the support/resistance levels the same for the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) (see below).  Stocks appear to be at a reflection point looking for a catalyst to resume the stock market direction uptrend or a reason to go into correction mode and possible establish a new base safer for opening new positions in stocks.  We continue to believe the prudent approach is to not open new positions, take profits and cut losses quickly.   


DJIA: Up 0.1% to 11,357

S&P 500: Up 0.4% to 1,219

Nasdaq Composite: Up 0.6% to 2,579


Advancing Issues: 1,879

Declining Issues: 1,159

Advance/Decline Ratio: 1.6 to 1

New Highs: 99

New Lows: 11

High/Low Ratio: 9 to 1


DJIA: 11,144/11,444

S&P 500: 1,185/1,226

Nasdaq Composite: 2,505/2,580


Energy (NYSEARCA:XLE) was the best performing sectors up 1.3% while utilities (NYSEARCA:XLU) was the worst performing sectors down 0.4%.

Other Sectors:

Consumer Discretionary (NYSEARCA:XLY) Up 0.9%

Consumer Staples (NYSEARCA:XLP) Down 0.3%

Financials (NYSEARCA:XLF) Up 1.1%

Health Care (NYSEARCA:XLV) Flat

Industrials (NYSEARCA:XLI) Flat

Materials (NYSEARCA:XLB) Up 0.5%

Technology (NYSEARCA:XLK) Flat

Disclosure: No positions