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BTDStocks.com Monday, October 4, 2010 End-Of-Day Update

|Includes: AXP, SPDR Dow Jones Industrial Average ETF (DIA), QQQ, SPY, VZ
The market opened lower then briefly turned positive to only trade the majority of the day lower. The DJIA, S&P 500, and Nasdaq Composite moved further away from and never tested (which they tested in previous sessions) the 10,860, 1,149, and 2,381 resistance levels.  Even though the uptrend is still intact we feel the best course of action for stocks is to remain defensive (do not open new positions/take profits/cut losses) until we get a successful test of the 10,662, 1,125, and 2,327 support levels on the DJIA, S&P 500, and Nasdaq Composite, respectively, or new support levels are established, or the stock market direction breaks above the resistance levels mentioned above.       

SUMMARY

DJIA: Down 0.7% to 10,751

S&P 500: Down 0.8% to 1,137

Nasdaq Composite: Down 1.1% to 2,345

BREADTH FOR NYSE

Advancing Issues: 821

Declining Issues: 2,218

Advance/Decline Ratio: .4 to 1

New Highs: 107

New Lows: 5

High/Low Ratio: 21 to 1

SUPPORT/RESISTANCE LEVELS

DJIA: 10,662/10,860

S&P 500: 1,125/1,149

Nasdaq Composite: 2,327/2,381

NOTABLE ACTIVITY IN DOW 30 STOCKS

American Express (symbol: AXP) down 6.5% on heavier volume

ACTIVE STOCK PROFILES

Verizon Communications Inc. (symbol: VZ) profiled since $31.84 (overvalued)

www.btdstocks.com



Disclosure: No positions