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
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
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

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Mixed to Nominally Lower Day with Good Technicals

Stock-Markets / Stock Market 2017 Mar 24, 2017 - 05:47 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a mixed to nominally lower day with pretty good technicals for a positive down day, which is bullish, but the overall look of the trend wasn’t good. The snapback began yesterday, extended this morning, and came down in a 3-wave corrective pullback. It remains to be seen whether the lows hold, and whether or not this extends to the downside, or if this is just a consolidation before we resume back up. Right now, I favor the downside, so we’ll see if that occurs.


Net on the day, the bottomline is that today’s losses were nominal. The Dow was down 4.72 at 20,656.58, about 38 points off the low. The S&P 500 was down 2.49 at 2345.96, only 4 points off the low. The Nasdaq 100 was down 12.41 at 5355.14, 9 points off the low.

Advance-declines were 19 to 11 positive on the New York Stock Exchange, and 9 to 5 positive the Nasdaq. Up/down volume was 17 to 14 positive on New York, total volume of 3.2 billion shares traded. The Nasdaq traded 1.7 billion shares and had a 9 to 8 positive volume ratio.

TheTechTrader.com board was extremely narrowly mixed. Priceline.com (PCLN) was down 3.66 to 1748.33, Alphabet Inc. (GOOG) down 12.01 to 817.58, Apple Inc. (AAPL) down 50 cents to 140.92, Amazon.com, Inc. (AMZN) 68 cents to 847.38, and Netflix, Inc. (NFLX) 81 cents to 141.84.

Baidu, Inc. (BIDU) closed nearly flat, up just 3 cents to 169.61, Facebook, Inc. (FB) also flat, down 6 cents to 139.53, and First Solar, Inc. (FSLR) dropped 29 cents to 28.58.

Tesla Motors, Inc. (TSLA) dropped 23 cents to 254.78.

Other stocks to the upside included Clovis Oncology Inc (CLVS), up 1.35 to 68.53, and Esperion Therapeutics, Inc. (ESPR) up 1.39 to 40.40.

On the downside, Editas Medicine Inc. (EDIT) dropped 1.60 to 19.27, 9 points off the high, and Kite Pharma, Inc. (KITE) gave back 1.88 to 74.50.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) lost 47 cents to 45.32.

Other than that, there were only fractional changes, up or down.

Checking TheTechTrader.com percent-gain leaderboard, Cancer Genetics, Inc. (CGIX) bounced 45 cents, or 15 1/2%, to 3.35, on 2.8 million shares traded.

HTG Molecular Diagnostics, Inc. (HTGM) ran 1.79, or 84%, to 3.93, on nearly 44 million shares traded.

Flexion Therapeutics, Inc. (FLXN), on takeover rumors, exploded 6.57, or 33%, to 26.25, on 9.1 million shares traded. LSC Communications, Inc. (LKSD) jumped 3.69, or 18%, to 24.51, on 6.9 million shares traded. GreenPlex Services, Inc. (GRPX), a new issue, gained 1.15, or 13%, to 10.13. Penn National Gaming, Inc. (PENN) advanced 1.79, or 12%, to 17.18, on 8.7 million shares traded. Five Below, Inc. (FIVE) eked out 4.12, or 11%, to 42.25, on 7.8 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, down in the afternoon, and closed slightly lower on the day.

Good Trading!

Harry

For more of Harry Boxer, sign up for a FREE 7-Day Trial to his Real-Time Technical Trading Diary.

(c) 2017 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