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BTDStocks.com Friday, February 4, 2011 End-Of-Day Update

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), EUO, FDO, GDX, PSQ, QQQ, RWM, SH, SPY, UUP

The stock market advanced today even though the jobs report came in below expectations. The unemployment rate declined from 9.4% to 9.0% but this was due to people leaving the workforce. The major indexes all closed at new highs and the Nasdaq Composite which has recently been struggling at the 2,755 level was able to close above its recent high of 2,766 to make a new high at 2,769. Market breadth was neutral and investor participation was mixed. So far the DJIA and S&P 500 are holding the 12,000 and 1,300 psychological levels, respectively since they moved above them.  Staying 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).  With the gains this week the Volatility Index (VIX) is right back at the level it was before the turmoil in Egypt escalated last Friday. Investor complacency seems to be back after the market was able to rally this week. The prudent approach remains not opening new positions in stocks, protect profits, and keep losses small.

No positions in securities mentioned.