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
Stocks Correct into Bitcoin Happy Thanks Halving - Earnings Season Buying Opps - 4th July 24
24 Hours Until Clown Rishi Sunak is Booted Out of Number 10 - UIK General Election 2024 - 4th July 24
Clown Rishi Delivers Tory Election Bloodbath, Labour 400+ Seat Landslide - 1st July 24
Bitcoin Happy Thanks Halving - Crypto's Exist Strategy - 30th June 24
Is a China-Taiwan Conflict Likely? Watch the Region's Stock Market Indexes - 30th June 24
Gold Mining Stocks Record Quarter - 30th June 24
Could Low PCE Inflation Take Gold to the Moon? - 30th June 24
UK General Election 2024 Result Forecast - 26th June 24
AI Stocks Portfolio Accumulate and Distribute - 26th June 24
Gold Stocks Reloading - 26th June 24
Gold Price Completely Unsurprising Reversal and Next Steps - 26th June 24
Inflation – How It Started And Where We Are Now - 26th June 24
Can Stock Market Bad Breadth Be Good? - 26th June 24
How to Capitalise on the Robots - 20th June 24
Bitcoin, Gold, and Copper Paint a Coherent Picture - 20th June 24
Why a Dow Stock Market Peak Will Boost Silver - 20th June 24
QI Group: Leading With Integrity and Impactful Initiatives - 20th June 24
Tesla Robo Taxis are Coming THIS YEAR! - 16th June 24
Will NVDA Crash the Market? - 16th June 24
Inflation Is Dead! Or Is It? - 16th June 24
Investors Are Forever Blowing Bubbles - 16th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Tough Day for the Stock Market

Stock-Markets / Stock Markets 2016 Apr 06, 2016 - 11:21 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a tough session today and closed down on the day. The day started out with a big gap down, they rallied and recovered about 50% of their losses, and then rolled back down and retested those lows by midday. They managed to hold on for two occasions, first midday when they rallied back, but couldn’t get through the rally-back highs, and then they pulled back down again. The last hour wasn’t pretty as the markets gave it back and ended the day down sharply.


Net on the day, the Dow was down 133.68 at 17,603.32. The S&P 500 was down 20.96 to 2045.17. The Nasdaq 100 was down 40.96 to 4470.75.

Advance-declines were almost 3 to 1 negative on the New York Stock Exchange, and 2 1/2 to 1 negative on the Nasdaq. Up/down volume was 2 to 1 negative on New York, total volume of 4 billion shares traded. The Nasdaq traded 1 3/4 billion shares and had a 2 1/2 to 1 negative volume ratio.

TheTechTrader.com board was mostly red today. There were lots of losers. Priceline.com (PCLN) was down 2.68 to 1279.08, Google Inc. (GOOG) down 7.49 to 737.80, Apple Inc. (AAPL) down 1.31 to 109.81, and Amazon.com Inc. (AMZN) 7.05 to 586.14, but Netflix, Inc. (NFLX) was positive by a small fraction of 59 cents to 104.94.

Baidu, Inc. (BIDU) lost 5.17 to 183.80, Facebook, Inc. (FB) gave back just 33 cents to 112.22, and First Solar, Inc. (FSLR) dropped 4.82 to 62.42.

Tesla Motors, Inc. (TSLA) had another fabulous day today, up 8.48 to 255.47, reaching a high of 256.56. This stock has moved up 115 points in the last couple weeks.

Juno Therapeutics Inc. (JUNO) was also an outstanding stock today, up 1.25 to 39.54 with a high of 40.18. Editas Medicine Inc. (EDIT) gained 2.46 to 42.04, snapping back from recent losses. NeoPhotonics Corporation (NPTN) was up 67 cents to 14.41, on over a million shares.

The Direxion Daily Energy Bear 3X ETF (ERY) advanced 47 cents to 23.91 as oil improved today.

Other stocks to the downside included Intrexon Corporation (XON), down 1.55 to 33.45.

Checking the TheTechTrader.com percent-gain leaderboard, DragonWave Inc. (DRWI) exploded 2.78 to 8.70, or 47%, on 1.6 million shares traded, closing not far off the high for the day. Inventergy Global, Inc. (INVT) popped 52 cents to 2.50, or 27%, on 7.4 million shares. Recro Pharma, Inc. (REPH) thrust 1.15 to 7.99, or 17%.

Armstrong Flooring, Inc. Common (AFI) climbed 2.52 to 14.52, or 21%, on 2.8 million shares traded. Marvell Technology Group Ltd. (MRVL) gradually made its way up all day to close up 1.26 to 10.88, or 13%, on 20 million shares traded. Zynerba Pharmaceuticals (ZYNE) rocketed to 11.30 before pulling back and closing up 1.43 to 10.92, or 15%. Lumber Liquidators Holdings, Inc. (LL) ran to 15.00, pulled back to 14.20, up 1.38, or 11%, on 4.6 million shares. Valeant Pharmaceuticals International, Inc. (VRX) snapped back 2.62 to 28.73, or 10%, on 48.8 million shares.

Intercept Pharmaceuticals, Inc. (ICPT) ran up and stayed up all day, closing up 17.76 to 151.31, or 13%, on 2.1 million shares.

Stepping back and reviewing the hourly chart patterns, the indices gapped down at the opening, bounced, retested the lows on two occasions, first midday, and then again at the end of the day to close a little off the lows, but a negative start to the week.

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