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 Indices Close Lower After Drifting Most of the Day

Stock-Markets / Stock Markets 2016 Nov 01, 2016 - 03:56 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices started the week off on a sour note, although they did gap up at the opening, they pulled back, tested, made slightly higher highs on the S&P 500, but the Nasdaq 100 was not able to do so. The rest of the day was spent drifting back down, and in the last hour, they went negative and closed near the session lows going away.

Net on the day, the Dow was down 18.77 at 18,142.42, 12 points off the low and about 50 points off the high. The S&P 500 was down .26 at 2126.15, about 60 cents off its low, 7 off its high, and very, very narrowly changed. The Nasdaq 100 was down 4.32 at 4801.27, closed at the low for the day, and 22 points off its high.


Advance-declines managed to stay positive on the New York Stock Exchange by 70 issues, and negative on the Nasdaq by 35 issues. Up/down volume was exactly flat on New York, total volume of 3.8 billion shares traded. The Nasdaq traded 1.65 billion shares and was slightly ahead by 84 to 81 positive volume ratio.

TheTechTrader.com board was narrowly changed. Priceline.com (PCLN) was down just 59 cents to 1474.23, Alphabet Inc. (GOOG) down 10.83 to 784.54, Apple Inc. (AAPL) down 18 cents to 113.54, Netflix, Inc. (NFLX) 1.70 to 124.87, however, Amazon.com, Inc. (AMZN) exploded 13.50 to 789.82, closing 4 points off its high.

Baidu, Inc. (BIDU) gave back 2.73 to 176.86, Facebook, Inc. (FB) dropped 30 cents to 130.99, and First Solar, Inc. (FSLR) closed nearly flat, down 16 cents to 49.49.

Tesla Motors, Inc. (TSLA) got hammered 2.24 to 197.73.

Other stocks to the downside included Twilio, Inc. (TWLO), down 1.30 to 43.12, trading 40 points higher recently. Acacia Communications, Inc. (ACIA) lost 1.55 to 69.69, trading as high as 74.39, and CoLucid Pharmaceuticals, Inc. (CLCD) dropped 1.19 to 30.40, Clovis Oncology Inc (CLVS) fell 1.50 to 29.08.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) was weak today, down 1.15 to 29.95, closing near the lows for the day as biotech’s were unable to muster much of a move at all.

Checking TheTechTrader.com percent-gain leaderboard, Lantheus Holdings, Inc. (LNTH) snapped back 50 cents, or 6%, to 8.64.

Ophthotech Corporation (OPHT) popped 3.37, or 10%, to 35.82, on over 2 million shares traded, and traded about a point higher on profit taking. INC Research Holdings, Inc. (INCR) gained 4.25, or 10%, to 45.70, on 2.2 million shares traded.

The Direxion Daily Gold Miners Bull 3X ETF (NUGT) ran 1.12 to 14.06.

The VelocityShares 3x Inverse Crude Oil ETN (DWTI) was stellar today, up 8.50, or 13%, to 72.60, on 6.7 million shares traded as we continue to believe oil is going down. The ProShares UltraShort Bloomberg Crude Oil (SCO) had a great day, up 6.94, or 8.88%, to 85.34, on over 1 million shares traded. The VelocityShares 3x Inv Natural Gas ETN (DGAZ) bounced 56 cents, or 10%, to l6.10, on over 15 million shares traded.

Stepping back and reviewing the hourly chart patterns, after gapping up, the indices drifted most of the day, and drifted lower into the close.

We’ll see if there’s any follow-through to the downside 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