Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Friday, March 25, 2011 End-of-Day Update

|Includes: AAPL, AGO, CCJ, CSCO, SPDR Dow Jones Industrial Average ETF (DIA), EUO, FDO, NUAN, PSQ, RWM, SH, SPY, UUP

Stocks rose moderately on Friday after giving up a significant amount of their early gains.  Investor participation was lacking but market breadth was good.  The action wasn't that impressive.  However, keeping with the overall stock market direction trend we are raising the support/resistance levels on the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) (see below).  The DJIA and S&P 500 were able to move further above their 21-day and 50-day moving averages.  Probably even more significant is how the Nasdaq Composite is finding resistance at its 50-day moving average.  This could be a sign that stocks are not ready to pop higher further without spending some time backfilling and re-testing the lower levels it has recently visited.  Market sentiment (as measured through the VIX) is once again at levels that in the recent past have shown to indicate complacency among investors.  As we have been saying aggressive investors should buy shares slowly.  By following this method you won't get hurt should the market decide to re-test the recent lows and even make some new lows before establishing a new base to rally from.  If you need to own stocks, please see our watch list below.  Check back before the open on Monday in case we decide to make some adjustments in our watch list.   
No positions in securities mentioned.