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 Mixed, Very Interesting, Volatile FOMC Day

Stock-Markets / Stock Markets 2016 Apr 28, 2016 - 10:16 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a mixed session and a very interesting volatile day. The day started out with a gap lower on Apple Inc. (AAPL) earnings, went down very sharply on the Nasdaq 100, dropping from 4450 down to 4380, about 70 points from top to bottom, they rallied back to 4409, pulled back to retest the low, made higher lows, went back to the highs again, but couldn’t get back through the 4410 range, and back off. Post FOMC they spurted up toward a retest. A pullback did about a .618 Fibonacci retracement, and they ran right back up to the gap, only to pullback right at the close. The S&P 500 actually pulled through the 4-day resistance highs, and made a nominal new high near 2100 today before falling back to 2095.


Net on the day, the Dow was up 51.23 at 18,042.55. The S&P 500 was up 3.45 at 2095.15, 4 point off the high, but 13 off the low. The Nasdaq was down 36.33 at 4416.63, 35 points off the low.

Advance-declines were nearly 3 to 1 positive on the New York Stock and 175 issues higher on the Nasdaq. Up/down volume was 3 to 1 positive on New York, total volume of 4 billion shares traded. The Nasdaq traded 1.9 billion shares and had a 11 to 8 positive volume ratio.

TheTechTrader.com board was narrowly mixed. Priceline Inc. (PCLN) was the only one of the Nasdaq Generals that was up today, and due in part because OpenTable, which is part of the PCLN Group, created an app making it easier to find local restaurants and entertainment. They were up 19.79 to 1353.74.

Google Inc. (GOOG) was down 2.30 to 705.84, Apple Inc. (AAPL), on earnings, down 6.53 to 97.83, Amazon.com Inc. (AMZN) down 10.31 to 606.57, and Netflix, Inc. (NFLX) down 1.39 to 91.04.

Baidu, Inc. (BIDU) lost just 30 cents to 187.95, Facebook, Inc. (FB) eked out 18 cents to the upside, while First Solar Inc. (FSLR) managed to pop 79 cents to 62.03.

Tesla Motors, Inc. (TSLA) lost 2.27 to 251.47.

Some of our swing trades did great today. With oil up today CONSOL Energy Inc. (CNX) was up 1.53 to 15.69, Targa Resources Corp. (TRGP) up 2.36 to 40.46, Stratasys Ltd. (SSYS) 1.13 to 27.13, and Cynosure, Inc. (CYNO) had a swing trade put on it today and bounced 1.19 to 50.79.

Losers of note included the Direxion Daily S&P Biotech Bull 3X ETF (LABU), down 1.17 to 33.00, although the low was 31.80 today, and Universal Display Corp. (OLED) gave back 1.48 to 60.01.

Checking the TheTechTrader.com percent-gain leaderboard, low-priced Legacy Reserves (LGCY) advanced 73 cents to 3.64, or 25%, on 10 million shares. Bonanza Creek Energy, Inc. (BCEI) climbed 51 cents to 4.23, or 14%, on 9.7 million shares.

Sonus Networks, Inc. (SONS), which we traded today, gained 1.10 to 8.36, or 15%, on 1.8 million shares.

Barracuda Networks, Inc. (CUDA) bumped up 2.63 to 18.18, or 17%, on 3.5 million shares. Nanometrics Incorporated (NANO) closed up 2.11 to 17.85, or 13%. Energy Transfer Equity, L.P. (ETE) had a big day, up 1.50 to 13.29, or 13%, on 32 million shares. Cirrus Logic Inc. (CRUS) gained 4.20 to 38.11, or 12%, on 6 million shares. Boston Scientific Corporation (BSX) snapped back 2.20 to 21.89, or 11%, on 47 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were down sharply in the morning, up midday, they consolidated, ran after the FOMC meeting, and a 3-wave advance took the S&P 500 back near 2100 before backing off.

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