Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

BTDStocks.com Friday, November 12, 2010 End-Of-Day Update

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

Stocks had another material down session with the major indexes testing their 21-day moving averages intraday but closed above them.  In addition, on an intraday basis, the DJIA (NYSEARCA:DIA) tested its support level the Nasdaq Composite (QQQQ) came within one point of its support level and the S&P 500 (NYSEARCA:SPY) came within nine points of its support level.  We are keeping the support levels the same and adjusting the resistance levels down (see below).  Breadth indicators continued to show negative expansions.  If you have been following our blog the prudent approach is to be mostly in cash waiting for the stock market direction to establish a new base that is safer to buy stocks.  

SUMMARY

DJIA: Down 0.8% to 11,193

S&P 500: Down 1.2% to 1,199

Nasdaq Composite: Down 1.5% to 2,518

BREADTH FOR NYSE

Advancing Issues: 521

Declining Issues: 2,509

Advance/Decline Ratio: .2 to 1

New Highs: 35

New Lows: 14

High/Low Ratio: 3 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 11,144/11,283

S&P 500: 1,185/1,214

Nasdaq Composite: 2,505/2,556

SECTOR ANALYSIS

Consumer Staples was the best performing sectors down 0.5% while materials was the worst performing sectors down 2.2%.

Other Sectors:

Consumer Discretionary Down 1.0%

Energy Down 1.5%

Financials Down 1.7%

Health Care Down 1.3%

Industrials Down 1.2%

Technology Down 1.4%

Utilities Down 0.8%

www.btdstocks.com



Disclosure: No positions