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
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24
Micro Strategy Bubble Mania - 10th May 24
Biden's Bureau of Labor Statistics is Cooking Jobs Reports - 10th May 24
Bitcoin Price Swings Analysis - 9th May 24
Could Chinese Gold Be the Straw That Breaks the Dollar's Back? - 9th May 24
The Federal Reserve Is Broke! - 9th May 24
The Elliott Wave Crash Course - 9th May 24
Psychologically Prepared for Bitcoin Bull Market Bubble MANIA Rug Pull Corrections 2024 - 8th May 24
Why You Should Pay Attention to This Time-Tested Stock Market Indicator Now - 8th May 24
Copper: The India Factor - 8th May 24
Gold 2008 and 2022 All Over Again? Stocks, USDX - 8th May 24
Holocaust Survivor States Israel is Like Nazi Germany, The Fourth Reich - 8th May 24
Fourth Reich Invades Rafah Concentration Camp To Kill Palestinian Children - 8th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Dow Trails in Narrowly Mixed Session

Stock-Markets / Stock Markets 2010 Nov 18, 2010 - 04:03 AM GMT

By: Harry_Boxer

Stock-Markets

Best Financial Markets Analysis ArticleThe stock market indices ended mixed today, but it was an interesting ride. They started out firm, running up to resistance at 2110 on the Nasdaq 100 and 1184 on the S&P 500. Then they backed off and coiled for several hours, tried a midday rally, but once again reached those same levels and couldn't get through, and backed and filled. With about an hour and fifteen minutes to go the indices suddenly rolled over hard to test yesterday's low, but bounced back sharply in the last 15-20 minutes to close mixed on the day.


Net on the day, the Dow managed to hold 11,000 at 11,007.88, down 15.62, but the S&P 500 was up 0.25 at 1178.59, and the Nasdaq 100 closed right at 2100.00 even, up 6.37.

Advance-declines at 3 to 2 positive on the New York Stock Exchange, but just 13 to 12 positive on Nasdaq. Up/down volume was slightly positive on New York with total volume of 930 million shares. Nasdaq traded just under 1.8 billion and had about a 9 to 8 positive ratio of advancing volume over declining volume.

So you can see that it was a marginally positive day overall.

Charts of the Day:

Reviewing our Watchboard:

TheTechTrader.com board was mostly higher today with many point-plus gainers and losers, several of which we traded today. Leading the way today was Chart Industries Inc. (GTLS), by far the winner, up 3.55 to 26.70. Bob Evans Farms Inc. (BOBE) jumped 2.75 to 32.57, China Medical Technologies Inc. (CMED) 2.09 to 13.86, and current swing trade pick IDT Corporation (IDT) 2.00 to 22.22.

In addition, Chico's FAS Inc. (CHS) was up 1.06 to 11.13, SinoHub, Inc. (SIHI) 55 cents to 3.04, Radware Ltd. (RDWR) 1.06 to 31.59, Cree Inc. (CREE) 1.17 to 56.29, and Coinstar Inc. (CSTR) 1.09 to 60.08.

On the downside, Apple Inc. (AAPL) lost 1.09 to 300.50, and JinkoSolar Holding Co., Ltd. (JKS) got hammered for 3.58 to 25.61, a very negative day.

In addition, the iPath S&P 500 VIX Short-Term Futures ETN (VXX) lost 1.26 to 48.08.

Stepping back and reviewing the hourly chart patterns, the indices were up sharply in the morning, failed at resistance, backed and filled for several hours, couldn't break out and rolled over hard, but held support and bounced into the close to end mixed on the day. An interesting day, but still the overall trend and the channels are down and have not been broken out.

Key levels to watch tomorrow are 2110-11 on the NDX and 1184 SPX.

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) 2010 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