Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
When the Crude Oil Price Collapses Below $40 What Happens? PART III - 17th Nov 19
If History Repeats, Gold is Headed to $8,000 - 17th Nov 19
All You Need To Know About Cryptocurrency - 17th Nov 19
What happens To The Global Economy If Oil Collapses Below $40 – Part II - 15th Nov 19
America’s Exceptionalism’s Non-intervention Slide to Conquest, Empire - and Socialism - 15th Nov 19
Five Gold Charts to Contemplate as We Prepare for the New Year - 15th Nov 19
Best Gaming CPU Nov 2019 - Budget, Mid and High End PC System Processors - 15th Nov 19
Lend Money Without A Credit Check — Is That Possible? - 15th Nov 19
Gold and Silver Capitulation Time - 14th Nov 19
The Case for a Silver Price Rally - 14th Nov 19
What Happens To The Global Economy If the Oil Price Collapses Below $40 - 14th Nov 19
7 days of Free FX + Crypto Forecasts -- Join in - 14th Nov 19
How to Use Price Cycles and Profit as a Swing Trader – SPX, Bonds, Gold, Nat Gas - 13th Nov 19
Morrisons Throwing Thousands of Bonus More Points at Big Spend Shoppers - JACKPOT! - 13th Nov 19
What to Do NOW in Case of a Future Banking System Breakdown - 13th Nov 19
Why China is likely to remain the ‘world’s factory’ for some time to come - 13th Nov 19
Gold Price Breaks Down, Waving Good-bye to the 2019 Rally - 12th Nov 19
Fed Can't See the Bubbles Through the Lather - 12th Nov 19
Double 11 Record Sales Signal Strength of Chinese Consumption - 12th Nov 19
Welcome to the Zombie-land Of Oil, Gold and Stocks Investing – Part II - 12th Nov 19
Gold Retest Coming - 12th Nov 19
New Evidence Futures Markets Are Built for Manipulation - 12th Nov 19
Next 5 Year Future Proof Gaming PC Build Spec November 2019 - Ryzen 9 3900x, RTX 2080Ti... - 12th Nov 19
Gold and Silver - The Two Horsemen - 11th Nov 19
Towards a Diverging BRIC Future - 11th Nov 19
Welcome to the Zombie-land Of Stock Market Investing - 11th Nov 19
Illiquidity & Gold And Silver In The End Game - 11th Nov 19
Key Things You Need to Know When Starting a Business - 11th Nov 19
Stock Market Cycles Peaking - 11th Nov 19
Avoid Emotional Investing in Cryptocurrency - 11th Nov 19
Australian Lithium Mines NOT Viable at Current Prices - 10th Nov 19
The 10 Highest Paying Jobs In Oil & Gas - 10th Nov 19
World's Major Gold Miners Target Copper Porphyries - 10th Nov 19
AMAZON NOVEMBER 2019 BARGAIN PRICES - WD My Book 8TB External Drive for £126 - 10th Nov 19
Gold & Silver to Head Dramatically Higher, Mirroring Palladium - 9th Nov 19
How Do YOU Know the Direction of a Market's Larger Trend? - 9th Nov 19
BEST Amazon SMART Scale To Aid Weight Loss for Christmas 2019 - 9th Nov 19
Why Every Investor Should Invest in Water - 8th Nov 19
Wait… Was That a Bullish Silver Reversal? - 8th Nov 19
Gold, Silver and Copper The 3 Metallic Amigos and the Macro Message - 8th Nov 19
Is China locking up Indonesian Nickel? - 8th Nov 19

Market Oracle FREE Newsletter

How To Buy Gold For $3 An Ounce

FOMC Announcement Sends Stock Market Indices South...

Stock-Markets / Stock Markets 2016 Jan 28, 2016 - 10:50 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a topsy-turvy day today, coming down hard in the morning, back up midday, they backed off until the FOMC, and then spiked right after the news for a few minutes, reversed very sharply, taking the Nasdaq 100 from 4218 down to 4112, more than 100 points. The S&P 500 then dropped from 1915 to 1872, a total of 43 points. It was a very nasty slide indeed. They managed to bounce, but really formed nothing more than bear flags, and closed down on the day.


Net on the day, the Dow was down 222.77 at 15,944.46. The S&P 500 was down 20.68 to 1882.95. The Nasdaq 100 was down a whopping 104.99 to 4128.86.

Advance-declines were 3 to 2 negative on New York Stock Exchange and more than 2 to 1 negative on Nasdaq. Up/down volume was 25 to 21 negative on New York, and 4.7 billion shares traded. The Nasdaq traded 2.1 billion shares and had a 3 1/2 to 1 negative volume ratio.

It was a very mixed picture with the blue chips looking stronger, although you wouldn't know it by the Dow and S&P 500. The underlying technicals weren't bad today.

TheTechTrader.com board was blood red. Priceline Inc. (PCLN) got hit hard today, down 67.84 to 1043.70, Google Inc. (GOOG) down 13.05 to 699.99, Apple Inc. (AAPL) down 6.57, Amazon.com Inc. (AMZN) got knocked out of the park, down 17.90 to 583.35, and Netflix, Inc. (NFLX) dropped 6.68 to 91.15.

Tesla Motors, Inc. (TSLA) gave back 5.49 to 188.07, and Baidu, Inc. (BIDU) pounded down 8.81 to 158.27. Facebook, Inc. (FB) lost 2.89 to 94.45, however, after hours its up 7 points on strong earnings.

Biotech's were hammered again. Nevro Corp. (NVRO) was down 4.22 to 61.78, Intra-Cellular Therapies, Inc. (ITCI) down 2.55 to 39.04, and First Solar, Inc. (FSLR), in a weak solar group lost 1.76 to 65.64.

On the upside, only Weight Watchers International, Inc. (WTW) managed to keep from drowning by a small fraction of 46 cents to 13.75. Freeport-McMoRan Inc. (FCX) was 45 cents higher to 4.65, or 11%, on 95.4 million shares after reaching over 5.00 today.

Checking the TheTechTrader percent-gain leaderboard, TransEnterix, Inc. (TRXC) popped 57 cents to 2.65, or 27%, on 9.5 million shares. Terex Corporation (TEX) bounced 2.35 to 22.85, or 11 1/2%, on 12 million shares, on rumors of a takeover.

The Direxion Daily S&P Biotech Bear 3X ETF (LABD) ran 8.16 to 68.07, or 14%.

CommVault Systems, Inc. (CVLT) jumped 5.02 to 36.39, or 16%, on 3.9 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were down sharply, up sharply, and then back down sharply in a 3-wave big decline that took them down to close near the lows for the day. Only a late bounce prevented that from happening.

Let's see how it goes tomorrow.

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) 2016 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