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Daily Wrap-up - A 17-Point Loss for the Dow Jones Industrial Average

11/3/2009 4:54 PM
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The day ends on a mixed note. The Dow Jones Industrial Average (DJIA) posted a small loss of 17 points while the S&P 500 (SPX) and Nasdaq Composite (COMP) finished with small gains. The Russell 2000 (RUT) led the pack with a 1% jump.

The Amex Gold Bugs Index (HUI), Dow Jones Transport Index (.TRAN), and Amex Biotech Index (BTK) led while the Semiconductor HOLDRS (SMH), iShares Treasury Bond (TLT), and AMEX Pharmaceutical Index (DRG) lagged.

As mentioned yesterday, I have been watching the S&P 500 and its 80-day moving average since Bernie Schaeffer pointed it out last week. Just before the close, Bernie routed the last chart below to his analyst team and noted -

Came within 4 points of an 80-day touch at yesterday's low.

The July pullback spent 5 days trading near this trendline before the bulls stepped back in. The action over the next few days should be interesting. And that is where I will pick up in the morning. Have a nice evening.

Chart Courtesy of Thomson Reuters

Index	Index Value	Point Change	Percent Change
S&P 500 (SPX)	1045.4	2.5 points	0.24 percent
Dow Jones Industrial Average (DJIA)	9771.9	-17.5 points	-0.18 percent
Nasdaq Composite (COMP)	2057.3	8.1 points	0.40 percent
Russell 2000 (RUT)	570.6	8.2 points	1.46 percent
CBOE Market Volatility Index (VIX)	28.81	-0.97 points	-3.3 percent

Click here for symbol descriptions

Charts Courtesy of Thomson Reuters

Chart Courtesy of Thomson Reuters

-posted by Nick Perry
11/3/2009 4:54 PM

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