Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Nice Recovery from Morning Declines

Stock-Markets / Stock Markets 2015 Jun 02, 2015 - 12:07 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices started the day off with a very sharp decline, breaking two levels of support, but within an hour had stabilized, and then reversed sharply, taking the Nasdaq 100 from 4490 to over 4535, a 45-point rally in a 3-wave run. They consolidated midafternoon as the S&P 500 made a nominal new high, but the NDX could not confirm it, and rolled over in the last hour to pare back the gains. Nevertheless, it was still a positive session, but narrowly so.


Net on the day, the Dow was up 29.69 at 18,040.37, 65 points off its high. The S&P 500 was up 4.34 at 2111.73, 8 points off its high. The Nasdaq 100 was up 13.59 at 4521.85, 14 points off its high.

Advance-declines were 8 to 7 positive on New York Stock Exchange and flat on Nasdaq.

Up/down volume was 15 to 14 positive on New York, with total volume of just under 3 billion shares. Nasdaq traded 1.8 billion shares, and had a 4 to 3 positive volume ratio.

It was a disappointing close, but a nice recovery from the morning declines.

TheTechTrader.com board was narrowly mixed. Among the large-cap stocks that we follow Google Inc. (GOOG) was up 1.88 to 533.99, Apple Inc. (AAPL) up just 26 cents to 130.54, and Amazon Inc. (AMZN) 1.69 to 430.92. Priceline.com (PCLN) lost 5.38 to 1166.66, and Netflix Inc. (NFLX) gave back 1.04 to 623.02. Tesla Inc. (TSLA) was off 1.35 to 249.45.

Heron Therapeutics, Inc. (HRTX) jumped 4.61 to 24.37, Advaxis, Inc. (ADXS), on an FDA clearance, climbed 3.61 to 28.77, and GoPro, Inc. (GPRO), after announcing a new camera, shot higher to 58.52, up 3.06.

Facebook, Inc. (FB) bounced 1.10 to 80.29, and Bristol-Myers Squibb Company (BMY) gained 1.88 to 66.48.

On the downside, Splunk, Inc. (SPLK) was down 1.16 to 66.46, Cyber-Ark Software Ltd. (CYBR), in a weak security group, down 1.47 to 60.72, and Esperion Therapeutics, Inc. (ESPR) 3.48 to 104.03.

Checking the TheTechTrader.com percent-gain leaderboard, low-priced ITT Educational Services Inc. (ESI) bounced 1.15 to 5.53, or 27%, on 9 million shares. CorMedix, Inc. (CRMD) gained 1.01 to 7.10, or 17%, on 1.3 million shares, reaching as high as 7.28 earlier in the day. SuperCom Ltd. (SPCB) spiked to 13.10 before pulling back to 12.09, up 1.28, or 12%.

ImmunoGen, Inc. (IMGN), on positive drug news, exploded 6.46 to 15.44, or 72%, on 24.4 million shares. Ignyta, Inc. (RXDX) ran, and ran hard to 15.64, then pulling back and closing up 5.92 to 14.90, or 66%, on 4.8 million shares. SINA Corporation (SINA) closed strong, up 9.48 to 50.21, or 23%, on 13 million shares.

Among other gainers, HomeAway, Inc. (AWAY) jumped 2.29 to 30.36, Net 1 Ueps Technologies Inc. (UEPS) advanced 1.41 to 15.91.

The Direxion Daily Russia Bear 3X ETF (RUSS) gained 2.87 to 34.28.

Stepping back and reviewing the hourly chart patterns, the indices came down in a 3-wave decline sharply early on, but recovered in a 3-wave advance, taking back all of the losses, and then some, only to give it all back at the end of the day. Still, they finished on a positive note, but disappointingly so.

Harry

Good Trading!

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) 2015 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

© 2005-2022 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