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 Positive Session with Good Technicals

Stock-Markets / Stock Markets 2016 Oct 06, 2016 - 10:22 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had another wild session, first gapping up and running to retest the highs, unable to get there, and by midday hit their peak on the Nasdaq 100. The S&P 500 did make a higher high in the afternoon, unconfirmed by the Nasdaq 100. That caused a negative divergence, which sold them off in the last hour.

Net on the day, the Dow was up 112.58 at 18,281.03, 34 points off its high. The S&P 500 was up 9.24 at 2159.73, 4 points off its high. The Nasdaq 100 was up 18.28 at 4877.75, 14 points off its high.


Advance-declines were 3 to 2 positive on the New York Stock Exchange, and 2 to 1 positive on the Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York, total volume of 3.8 billion shares traded. The Nasdaq traded 2 billion shares and had a 11 to 6 positive volume ratio.

TheTechTrader.com board was mostly higher. Priceline.com (PCLN) was up 8.56 to 1497.58, Google Inc. (GOOG) up just 4 cents to 776.47, Apple Inc. (AAPL) also up just a few pennies, 5 cents to 113.05, Amazon.com Inc. (AMZN), reaching a new high, up 10.33 to 844.36, and Netflix, Inc. (NFLX) 3.94 to 106.28.

Baidu, Inc. (BIDU) gained 3 cents to 184.11, Facebook, Inc. (FB) popped 28 cents to 128.46 and First Solar, Inc. (FSLR), in a very strong solar sector today, jumped 1.53 to 39.74.

Tesla Motors, Inc. (TSLA) lost 2.95 to 208.46.

Other gainers of note included Acacia Communications, Inc. (ACIA), on an upgraded guidance, exploded 11.54, or 11%, to 113.54. That was a nice gain there. Puma Biotechnology, Inc. (PBYI) ran 3.09 to 65.63, Clovis Oncology Inc (CLVS), on takeover rumors, up 2.52 to 37.28, and Cara Therapeutics Inc. (CARA), had a very solid day, 1.03 to 9.68.

Biotech’s were generally firm. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 2.24 to 49.88.

On the downside, NOVAN, INC. (NOVN) gave back 1.24 to 18.90, and NUTANIX, INC. (NTNX) dropped 1.91 to 36.18.

Checking TheTechTrader.com percent-gain leaderboard, Aurinia Pharmaceuticals Inc. (AUPH) bounced 55 cents, or 16%, to 4.05, on 9.9 million shares traded.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) advanced 1.85, or 26%, to 8.87, on 13.4 million shares traded, reaching as high as 9.75.

Net 1 Ueps Technologies Inc. (UEPS) climbed 2.00, or 22%, to 11.00, on 2.6 million shares traded. Resolute Energy Corporation (REN) closed up 5.02, or 20%, to 30.70, on 5.2 million shares traded. BioTelemetry, Inc. (BEAT) popped 2.42, or 13%, to 20.75, 1.8 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices started the day out with a gap up and a strong run early on, they pulled back very hard in the morning, and got to session highs on the Nasdaq 100 just before noon. At that point, the S&P 500 made a higher high. In the afternoon, they consolidated in wedges, tried to break out late, the S&P 500 actually making a new high at 2164, but the Nasdaq 100 couldn’t confirm, and in the last hour they pulled back to close positive on the 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