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BTDStocks.com Wednesday, February 9, 2011 End-Of-Day Update

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

After being on a roll since two Friday's ago the market saw its first day of material declines.  The declines in terms of percentages was not large but the under the hood the action suggested investors were taking some profits off the table.  Market breadth was negative.  The Semiconductor Index (SOX) was weak for the third session in a row and has been retracing the gains it made on Monday.  Semis in the past have shown to be a leading indicator for the market as many of the things we use in our everyday lives require the use of their components.  Staying with the trend we are raising the support levels on the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) and we are basically leaving the resistance levels the same (see below).  The prudent approach remains not opening new positions in stocks, protect profits, and keep losses small based on the stock market direction.

No positions in securities mentioned.