Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Weak Start to Stock Market Week

Stock-Markets / Stock Markets 2016 Apr 05, 2016 - 10:45 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a tough session to start the week. It was a down day, for sure. The day opened down, they pulled back, popped, couldn’t get through the highs, and sold off to the morning lows and session lows by about 11-11:15 this morning. They then rallied midday, and could not get through the highs, rolled over, retested twice, but couldn’t break down as well. Enough damage had been done to create losses for the day.


Net on the day, the Dow was down 55.75 at 17,737.00. The S&P 500 was down 6.65 to 2066.13. The Nasdaq 100 was down 20.38 to 4511.70.

Advance-declines were nearly 3 to 1 negative on the New York Stock Exchange, and 3 to 2 negative on the Nasdaq. Up/down volume was 2 1/2 to 1 negative on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1 2/3 billion shares and had a 5 to 3 negative volume ratio.

TheTechTrader.com board was a mixed picture today. Priceline Inc. (PCLN) was down 17.94 to 1281.76, Google Inc. (GOOG) down 4.62 to 745.29, Amazon.com Inc. (AMZN) down 5.31 to 593.19, and Netflix, Inc. (NFLX) down 1.35 to 104.35. However, Apple gained 1.13 to 111.12.

Baidu, Inc. (BIDU) lost 1.36 to 188.97, Facebook, Inc. (FB) gave back 3.51 to 112.55, and First Solar, Inc. (FSLR) was down just 24 cents to 67.24.

Tesla Motors, Inc. (TSLA) jumped 9.40 to 246.90, after figures were released for the new model sales.

Other stocks of note to the upside included Stratasys Ltd. (SSYS), a new swing trade for us, up 2.25 to 27.65, Editas Medicine Inc. (EDIT) up 2.68 to 39.58, Bristol-Myers Squibb Company (BMY) 1.06 to 65.97, and ACADIA Pharmaceuticals Inc. (ACAD) 1.40 to 30.06, after reaching as high as 31.79.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 1.00 to 30.97.

Checking the TheTechTrader.com percent-gain leaderboard, Sky440, Inc. (SKYF) was up 1.64 to 5.90, or 38 1/2%, on 18 million shares. Sorrento Therapeutics, Inc. (SRNE) climbed 85 cents to 6.30, or 16%, on over a half million shares. Genocea Biosciences, Inc. (GNCA) bounced 88 cents to 6.83, or 15%, on 4.8 million shares. Celldex Therapeutics, Inc. (CLDX) popped 42 cents to 4.37, or 11%, on 5.1 million shares.

OncoCyte Corporation (OCX) led the way today, up 1.85 to 6.07, or 44%, on low volume. MediciNova Inc. (MNOV) advanced 1.10 to 9.00, or 14%. NantKwest, Inc. (NK) climbed 1.09 to 9.72, or 13%.

Flexion Therapeutics, Inc. (FLXN) ran 1.53 to 10.95, or 16%, on over a half million shares. Momo Inc. (MOMO) had an interesting day, up 1.26 to 12.19, or 11 1/2%, on 4 million shares. Esperion Therapeutics, Inc. (ESPR) thrust 1.86 to 19.36, or 11%.

Edwards Lifesciences Corp. (EW) was big on big earnings, up 15.16 to 105.08, or 17%, on 9 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were down in the morning, up midday, back down in the afternoon, couldn’t rally enough to take back the losses, and ended the day with a weak start to the week.

Let’s see what happens 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

© 2005-2022 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