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
US Bond Market Panic Continues Towards May Expected Japanese Rate Hike Volatility Spike - 24th April 25
Stock Market Tarrified as President Dump Risks Turning Recession into Stagflationary Depression - 21st April 25
President Dump Delivers BEAR MARKET - Stock Market Battles Between Order and Chaos - 7th April 25
Stocks Bull Market End Game Bear Start Strategy - 20th Mar 25
Gold and System Collapse: Charting the Bank Run of the Mighty US Dollar - 20th Mar 25
Tesla's Troubles — Is it Musk or is it More? - 20th Mar 25
The Stock Market Bear / Crash indicator Window - 9th Mar 25
Big US Tech Stocks Fundamentals - 9th Mar 25
No Winners When The Inflation Balloon Pops - 9th Mar 25

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Interesting Sell-Off Day

Stock-Markets / Stock Market 2017 May 11, 2017 - 12:11 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market had an interesting day today with the indices down in the morning, up midday, and rallying right to within an hour of the close, but could not get through the highs, and then a sharp sell-off ensured. They did hold secondary support, came back very sharply, and finished near the highs for the day.


Net on the day, the Dow was down 32.67 at 20,943.11, about 58 points off the low. The S&P 500 was up 2.71 at 2399.63, a penny from its high. The Nasdaq 100 reached a new closing all-time high, up 3.37 at 5681.68.

Advance-declines were 2 to 1 positive on the New York Stock Exchange, and 350 issues positive on the Nasdaq. Up/down volume was almost 3 to 1 positive on New York, total volume of 3.4 billion shares traded. The Nasdaq traded 2 billion shares and had a 4 to 3 positive volume ratio.

TheTechTrader.com board was very mixed. There were some gainers, but Priceline.com (PCLN) was a big loser today, down 86.36 to 1824.77, and really hurt the Nasdaq 100 today. Alphabet Inc. (GOOG) was down 3.39 to 928.78, Apple Inc. (AAPL) down 73 cents to 153.26, and Amazon.com, Inc. (AMZN) down 3.87 to 948.95. However, Netflix, Inc. (NFLX) gained 2.82 to 160.28.

Baidu, Inc. (BIDU) popped 59 cents to 183.57, First Solar, Inc. (FSLR) advanced 79 cents to 36.57, and Facebook, Inc. (FB) fell 19 cents to 150.29.

Tesla Motors, Inc. (TSLA) advanced nearly 4.00, up 3.96 to 325.22.

Biotech’s had a mixed session today. bluebird bio, Inc. (BLUE) was up 1.50 to 90.45, Kite Pharma, Inc. (KITE) up 2.88 to 74.98, Nektar Therapeutics (NKTR) up 1.43 to 18.97, but Supernus Pharmaceuticals, Inc. (SUPN) was down 1.00 to 31.90.

Other stocks to the upside included Mazor Robotics Ltd. (MZOR), gaining 2.01 to 42.00, Shopify Inc. (SHOP) advancing 3.91 to 93.06.

Checking TheTechTrader.com percent-gain leaderboard, low-priced Medical Transcription Billing Corp. (MTBC) bounced 45 cents, or 23%, to 2.41, on nearly 20 million shares traded, reaching as high as 3.80 earlier in the day.

Array BioPharma Inc. (ARRY) closed up 1.41, or 20%, to 8.43, on 17 million shares traded. Crocs, Inc. (CROX) thrust 1.08, or 17%, to 7.28, on 7.3 million shares traded.

Calithera Biosciences, Inc. (CALA) bounced 1.95, or 17%, to 13.25, on nearly a million shares traded. Natera, Inc. (NTRA) ran 1.51, or 16%, to 10.67, on a million shares traded.

NVIDIA Corporation (NVDA), on great earnings, exploded 18.35, or 18%, to 121.29, on 54 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were down at the opening, back up midday, and sold off sharply in the last hour, but came all the way back to the highs for the day.

It was a good session today, in general.

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