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

Stock Market Sloppy-Choppy, Topsy-Turvy Day

Stock-Markets / Stock Markets 2016 Apr 21, 2016 - 09:07 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a topsy-turvy day today as they were up and down more times than ocean waves during a bad storm. They opened to the upside, went down and then up several times, until they had a strong rally to resistance at about 4560 Nasdaq 100, pulled back mid-afternoon, rallied back to that level, took it out by a point, but couldn’t maintain. Meanwhile, the S&P 500 was making higher-highs all day, reaching 2111, not confirmed by the Nasdaq 100. In the afternoon in the last hour, they sold off pretty sharply, gave back a big chunk of the gains, but still managed to close slightly positive.


Net on the day, the Dow was up 42.67 at 18,096.27, 70 points off the high. The S&P 500 was up 1.60 at 2102.40, 9 points off its high. The Nasdaq 100 was up 3.35 at 4540.44, 22 points off its high.

Advance-declines were 17 to 13 positive on the New York Stock Exchange, and 5 to 3 positive on the Nasdaq. Up/down volume was 3 to 2 positive on New York, total volume of 4 billion shares traded. The Nasdaq traded 1.7 billion shares and had a 3 to 2 positive volume ratio.

TheTechTrader.com board as a result of the late sell off was mixed. Priceline.com (PCLN) was up 4.22 to 1350.00, Apple Inc. (AAPL) up 22 cents to 107.13, Amazon.com Inc. (AMZN) up 5.09 to 6323.99, Netflix, Inc. (NFLX), with a late rally, up 2.43 to 96.77 near the high for the day, but Google Inc. (GOOG) dropped 1.26 to 752.67.

Baidu, Inc. (BIDU) lost 85 cents to 193.67, Facebook, Inc. (FB) gained 13 cents to 112.42, and First Solar, Inc. (FSLR) jumped 1.20 to 61.72.

Tesla Motors, Inc. (TSLA) popped 2.60 to 249.97, 4 points off its high.

Intrexon Corporation (XON), in a mixed biotech sector, gained 1.07 to 36.83, and MaxLinear, Inc. (MXL) snapped back 1.14 to 17.00.

On the downside, GOOG was the only point-plus loser today.

Checking the TheTechTrader.com percent-gain leaderboard, Bonanza Creek Energy, Inc. (BCEI), in a strong oil sector, bounced 45 cents to 2.89, or 18.4%, on 9.5 million shares. Sanchez Energy Corporation (SN) popped 66 cents to 7.65, or 10%, on 4.8 million shares.

Straight Path Communications Inc. (STRP), with an FCC license renewed, jumped 5.58 to 35.35, or 19%, on 509,749, which was good volume for that stock. Manhattan Associates, Inc. (MANH), a software company, ran 8.48 to 67.30, or 14%, on 2.7 million shares traded. VMware, Inc. (VMW) exploded 7.07 to 58.53, or 14%, on 10.5 million shares traded.

Among other gainers, SolarCity Corporation (SCTY) bounced 2.37 to 32.65, Energy Recovery, Inc. (ERII) gained 83 cents to 12.48, and 3D Systems Corporation (DDD) advanced 41 cents to 17.80.

The Direxion Daily Russia Bull 3X ETF (RUSL) climbed 5.04 to 66.41.

Stepping back and reviewing hourly chart patterns, the indices were choppy in the morning, they ran into late morning to the highs for the day on the Nasdaq 100, but by consolidating by mid-afternoon, they rallied again, with the S&P 500 ripping through three new highs, the Nasdaq 100 failing to confirm. That negative divergence caused a last-hour sell off that put them back not too far from flat on the session, but the Nasdaq 100 and S&P 500 managed to eke out small gains.

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