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 Decent Comeback, Mixed, Consolidation Day

Stock-Markets / Stock Markets 2016 Jul 08, 2016 - 09:31 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a mixed session. The day started out with a pop to the upside, but they gave it back and then some, getting in the negative column by midday. They retested in the afternoon, making lower lows on the S&P 500, which was not confirmed by the Nasdaq 100. That resulted in a late rally back to finish mixed on the session.

Net on the day, the Dow was down 22.74 at 17,895.88, 70 points off the low. The S&P 500 was down 1.83 at 2097.90, 9 points off its low. The Nasdaq 100 was up 14.88 at 4459.58, 21 points off its low.


Advance-declines were positive by 275 issues on the New York Stock Exchange, and positive by 400 issues on the Nasdaq. Up/down volume was flat on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1.6 billion shares and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mixed and narrowly mixed. Priceline.com (PCLN) was up 5.22 to 297.26, Apple Inc. (AAPL) in the green by 41 cents to 95.94, and Netflix, Inc. (NFLX) had a slight gain, up 50 cents to 95.10, but Google Inc. (GOOG) lost 2.41 to 695.36, and Amazon.com Inc. (AMZN) gave back 1.04 to 736.57.  

Baidu, Inc. (BIDU) bounced 1.86 to 63.42, Facebook dropped 85 cents to 15.85, and First Solar, Inc. (FSLR) on a downgrade by Deutsche Bank, down 4.75 to 44.34.

Tesla Motors, Inc. (TSLA) jumped 1.50 to 215.94.

Universal Display Corp. (OLED), one of our swing trades, was up 1.49 to 67.84, NVIDIA Corporation (NVDA) up 1.24 to 48.89, Gigamon Inc. (GIMO) 1.59 to 39.27, and Ambarella, Inc. (AMBA) 1.20 to 52.23.

Checking TheTechTrader.com percent-gain leaderboard, US Energy Corp. (USEG) advanced 68 cents to 2.45, or 39%. Second Sight Medical Products, Inc. (EYES) gained 72 cents to 4.10, or 21%, on 3.1 million shares. The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) popped 56 cents to 6.18, or 10%, on 8 million shares.

Among other gainers, SemiLEDs Corporation (LEDS), one of the more spectacular gains this year, on a major investment by a private investor, exploded 6.85 to 10.15, or 208%, on 13.8 million shares, trading as high as 11.35 earlier in the day. That was 58,000% more volume than average. Momo Inc. (MOMO) ran 1.74 to 11.65, or 18%, on 3.2 million shares. Weibo Corporation (WB), one of our swing trades, closed up 3.08 to 31.57, or %, on 2 million shares. BioMarin Pharmaceutical Inc. (BMRN) eked out 7.35 to 88.16.

Stone Energy Corp. (SGY) ran to 16.40 early on, pulled back and closed up 88 cents to 14.70, and Achillion Pharmaceuticals, Inc. (ACHN) climbed 71 cents to 8.88.

The Bear oils got hammered after the inventory report. The VelocityShares 3x v Inverse Crude Oil ETN (DWTI) soared to 87.50, up 10.46, or 4%, on 4.2 million shares. The ProShares UltraShort Bloomberg Crude Oil (SCO) climbed 7.30 to 91.92.

Randgold Resources Limited (GOLD) had a nice day, up 6.33 to 119.08, and the Direxion Daily Gold Miners Bear 3X ETF (DUST) gained 53 cents to 6.21, or 10%, on 45.8 million shares.

Stepping back and reviewing the hourly chart patterns, the indices started with a gap and a run in the morning, got up to new rally highs, but right near key overhead resistance just under 4470 Nasdaq 100 and just under 2110 S&P 500. They pulled back fairly steeply but in an orderly fashion to test support twice holding midday on the Nasdaq 100, although the S&P 500 made a lower low. They did come back late in the day, jumping from 2089.98 S&P 500 and 4440.60 on the Nasdaq 100.

It was a decent comeback, mixed session on the day. Kind of a consolidation day.

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