Best of the Week
Most Popular
1. The Trump Stock Market Trap May Be Triggered - Barry_M_Ferguson
2.Why are Central Banks Buying Gold and Dumping Dollars? - Richard_Mills
3.US China War - Thucydides Trap and gold - Richard_Mills
4.Gold Price Trend Forcast to End September 2019 - Nadeem_Walayat
5.Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - Anika_Walayat
6.US Dollar Breakdown Begins, Gold Price to Bolt Higher - Jim_Willie_CB
7.INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - Nadeem_Walayat
8.Will Google AI Kill Us? Man vs Machine Intelligence - N_Walayat
9.US Prepares for Currency War with China - Richard_Mills
10.Gold Price Epochal Breakout Will Not Be Negated by a Correction - Clive Maund
Last 7 days
Gold Price Trend Validation - 22nd Aug 19
Economist Lays Out the Next Step to Wonderland for the Fed - 22nd Aug 19
GCSE Exam Results Day Shock! How to Get 9 A*'s Grade 9's in England and Maths - 22nd Aug 19
KEY WEEK FOR US MARKETS, GOLD, AND OIL - Audio Analysis - 22nd Aug 19
USD/JPY, USD/CHF, GBP/USD Currency Pairs to Watch Prior to FOMC Minutes and Jackson Hole - 22nd Aug 19
Fed Too Late To Prevent US Real Estate Market Crash? - 22nd Aug 19
Retail Sector Isn’t Dead. It’s Growing and Pays 6%+ Dividends - 22nd Aug 19
FREE Access EWI's Financial Market Forecasting Service - 22nd Aug 19
Benefits of Acrobits Softphone - 22nd Aug 19
How to Protect Your Site from Bots & Spam? - 21st Aug 19
Fed Too Late To Prevent A US Housing Market Crash? - 21st Aug 19
Gold and the Cracks in the U.S., Japan and Germany’s Economic Data - 21st Aug 19
The Gold Rush of 2019 - 21st Aug 19
How to Play Interest Rates in US Real Estate - 21st Aug 19
Stocks Likely to Breakout Instead of Gold - 21st Aug 19
Top 6 Tips to Attract Followers On SoundCloud - 21st Aug 19
WAYS TO SECURE YOUR FINANCIAL FUTURE - 21st Aug 19
Holiday Nightmares - Your Caravan is Missing! - 21st Aug 19
UK House Building and House Prices Trend Forecast - 20th Aug 19
The Next Stock Market Breakdown And The Setup - 20th Aug 19
5 Ways to Save by Using a Mortgage Broker - 20th Aug 19
Is This Time Different? Predictive Power of the Yield Curve and Gold - 19th Aug 19
New Dawn for the iGaming Industry in the United States - 19th Aug 19
Gold Set to Correct but Internals Remain Bullish - 19th Aug 19
Stock Market Correction Continues - 19th Aug 19
The Number One Gold Stock Of 2019 - 19th Aug 19
The State of the Financial Union - 18th Aug 19
The Nuts and Bolts: Yield Inversion Says Recession is Coming But it May take 24 months - 18th Aug 19
Markets August 19 Turn Date is Tomorrow – Are You Ready? - 18th Aug 19
JOHNSON AND JOHNSON - JNJ for Life Extension Pharma Stocks Investing - 17th Aug 19
Negative Bond Market Yields Tell A Story Of Shifting Economic Stock Market Leadership - 17th Aug 19
Is Stock Market About to Crash? Three Charts That Suggest It’s Possible - 17th Aug 19
It’s Time For Colombia To Dump The Peso - 17th Aug 19
Gold & Silver Stand Strong amid Stock Volatility & Falling Rates - 16th Aug 19
Gold Mining Stocks Q2’19 Fundamentals - 16th Aug 19
Silver, Transports, and Dow Jones Index At Targets – What Direct Next? - 16th Aug 19
When the US Bond Market Bubble Blows Up! - 16th Aug 19
Dark days are closing in on Apple - 16th Aug 19
Precious Metals Gone Wild! Reaching Initial Targets – Now What’s Next - 16th Aug 19
US Government Is Beholden To The Fed; And Vice-Versa - 15th Aug 19
GBP vs USD Forex Pair Swings Into Focus Amid Brexit Chaos - 15th Aug 19
US Negative Interest Rates Go Mainstream - With Some Glaring Omissions - 15th Aug 19
GOLD BULL RUN TREND ANALYSIS - 15th Aug 19
US Stock Market Could Fall 12% to 25% - 15th Aug 19
A Level Exam Results School Live Reaction Shock 2019! - 15th Aug 19
It's Time to Get Serious about Silver - 15th Aug 19
The EagleFX Beginners Guide – Financial Markets - 15th Aug 19

Market Oracle FREE Newsletter

The No 1 Gold Stock for 2019

Stock Market Indices Stair-Step Higher

Stock-Markets / Stock Markets 2010 May 13, 2010 - 04:54 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices continued their rally off last Thursday's spike lows, as the indices opened strongly and rallied and stair-stepped their way higher all day. The Dow closed up another 148.65 to 10,896.91, the S&P 500 up 15.88 to 1171.67, and the Nasdaq 100 up 35.10 to 975.58, all the indices closing near their session highs.


The technicals were positive, with advance-declines ahead by 6 to 1 on New York Stock Exchange and by 4 1/2 to 1 on Nasdaq. Up/down volume was about 7 to 1 positive on New York on total volume of about 1 1/4 billion. Nasdaq traded around 2 1/4 billion and had an 11 to 1 positive ratio.

TheTechTrader.com board, as a result of today's action, was mostly higher except for the ultra-shorts. Leading the way again on the upside was Baidu, Inc. (BIDU) up 6.79 to 78.21. Cree Inc. (CREE) jumped 6.20 to 77.54, Apple (AAPL) 5.57 to 262.09, Amazon.com (AMZN) 3.41 to 133.87, and Goldman Sachs Group (GS) 5.23 to 147.20.

RINO International (RINO) advanced 1.22 to 16.22 in a strong Chinese sector along with China Agritech (CAGC) up 1.28 to 15.29 and China Automotive (CAAS) 72 cents to 20.77.

Netlist Inc. (NLST) advanced 60 cents to 3.25 on nearly 4 million shares, the biggest volume in a couple months, and Origin Agritech (SEED) added 36 cents to 8.51. Zoltek Companies (ZOLT) extended yesterday's gains by another 30 cents to 10.76.

Mindspeed Technologies (MSPD) moved ahead by 51 cents to 10.41, Eastman Kodak Co. (EK) snapped back another 55 cents to 6.29, Delcath Systems (DCTH) advanced another 31 cents to 13.43, and Brigham Exploration (BEXP) was up 93 cents to 18.98 today.

On the downside, Google (GOOG) lost 3.66 to 505.39. In addition, the ETFs were lower with iPath S&P 500 VIX Short-Term Futures ETN (VXX) off 1.55 to 24.08, the Direxion Daily Emerging Markets Bear 3x (EDZ) 1.56 to 43.95, the UltraShort Real Estate ProShares (SRS) 84 cents to 24.36, the Direxion Daily Small Cap Bear 3x (TZA) 56 cents to 5.64, and the Direxion Daily Large Cap Bear 3x (BGZ) 60 cents to 13.23.

Stepping back and reviewing the hourly chart patterns, the indices basically opened higher and stair-stepped their way higher all session closing near the session highs. It was a very positive follow-through session, but now the indices are positioned near formidable overhead resistance around the 1975-80 zone on the NDX and just under the 1175-80 zone on the S&P 500.

We'll see if we'll be able to punch through or whether we get a pullback retest at this point.

Good trading!

Harry

For more of Harry Boxer, sign up for a FREE 15-Day Trial to his Real-Time Technical Trading Diary. Or sign up for a Free 30-Day Trial to his Top Charts of the Week service.

(c) 2010 AdviceTrade, Inc. All rights reserved. Distributed only by written permission of AdviceTrade and The Technical Trader at info@advicetrade.com . In using any portion of Harry Boxer's content, you agree to the terms and conditions governing the use of the service as described in our disclaimer at http://www.thetechtrader.com

Mr. Boxer's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.

Harry Boxer Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules