The market continues to show its resiliency today and is battling resistance areas in the Dow (10440) and the Nasdaq at 2100.  However, volume is not particulary heavy today considering the magnitude of the move.  If the Dow and Nasdaq can hold above resistance levels and volume picks up significantly above the average levels in the last hour of trading, it would be a BIG step in the right direction.

Here’s a look at the ETF’s that are moving with volume today (data as of 2:30 EST):

You see that semis, healthcare related stocks and select software are doing well.  How about the Canada ETF!  It broke out of a nice looking base with volume yesterday and looks very strong.

Note: The DI 20 and 40 scores are proprietary indicators of SelfInvestors.com that measure demand in a stock based on price and volume movements over a period of 20 and 40 days.  The higher the score, the greater the demand.  It’s not surprising that the Biotech ETF (IBB) is showing the highest DI scores in the chart above.  Take a look at the chart and you’ll see high volume buying and low volume selling.  It has soared above resistance of the 50 and 200 day moving averages in the last couple of weeks.

Volume is accelerating during the selloff over the last hour or so as key support levels in the major indices approach.  Here’s a look at which areas of the market are moving with volume today. Data as of 3PM EST.  The only bright spot today appears to be the semis.

(Data as of 2:45PM EST)

Quite a divergence between tech and the rest of the market today.  Money continues to flow out of energy and materials as we close in on the possibility of yet another day of distribution.

Here are today’s ETFs on the move.  Healthcare, Energy & Materials are getting hit today, while tech is bucking the trend with a strong performance.

I remember looking at the ETFs around mid day and seeing a whole lot of red, with big volume, so today’s reversal was mighty impressive and the kind of move that hints at a correction bottom.  We’lls see how it shakes out over the next couple of days.  Anyway,  here are today’s ETF movers:

Up With Volume:

SPDR Consumer Discretionary (XLY)  Up    .7%,    Volume up 291%
HLDRS Telecom (TTH)                     UP .86%,      Volume up 155%
Ishares Small Caps (IJR)                   Up .75%,      Volume up 110%
Ishares Emerging Markets (EEM)        Up .68%,      Volume up  80%
HLDRS Retail (RTH)                          Up 1.05%,    Volume up   72%
Ishares Lehman 20+ Yr Bonds (TLT)    Up .84%       Volume up   66%
SPDR Financial (XLF)                        Up 1.3%       Volume up   56%
Ishares Real Estate (IYR)                   Up 1.45%      Volume up  60%

Down With Volume

SPDR Energy (XLE)                 Down 1.49%, Volume up 83%
HLDRS Internet (OIH)              Down  .7%,   Volume up 69%

I’ve always liked using ETF’s for tracking money inflows/outflows which can give you a quick heads up on sector rotation.  Using using index charts such as the Philadelphia Indexes are good for tracking price, but don’t give any volume information.  Volume is key because it indicates the conviction behind the move.  ETF’s, which trade like stocks provide this key info.  Over the past several weeks I’ve been developing an ETF tracking system which will be included as part of premium membership at SelfInvestors.com in a couple weeks.  What I’d like to do here each day (or every couple of days) is post the ETF’s making notable moves.  Here are today’s movers:

Moving Up With Volume:

SPDR Consumer Staples (XLP)  Up .61%,    Volume up 161%
Ishares Software (IGV)            UP 1.06%,  Volume up 114%
Ishares Mexico (EWW)            Up 2.59%,  Volume up 129%
Ishares Realty (ICF)                 Up .63%,  Volume up 104%
SPDR Healthcare (XLV)            Up .82%,   Volume up 90%
SPDR Financial (XLF)               Up .53%     Volume up 63%
HLDRS Pharma (PPH)              Up .64%     Volume up 60%

Moving Down With Volume

SPDR Energy (XLE)                 Down .76%, Volume up 143%
Ishares Austria (EWO)             Down 1.04%, Volume up 100%
HLDRS Oil Service (OIH)         Down 1.46%, Volume up 69%
Ishares Malaysia (EWM)           Down .59%, Volume up 43%