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
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 24
Stock & Crypto Markets Going into December 2024 - 2nd Dec 24
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
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

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Dow Jones Stocks Index Closes Above 12,000

Stock-Markets / Stock Markets 2011 Feb 02, 2011 - 04:12 AM GMT

By: Harry_Boxer

Stock-Markets

Best Financial Markets Analysis ArticleThe stock market indices started off the month with a bang in an explosive move from the get-go that took them sharply higher all morning and reached the rally highs on the Nasdaq 100 just before noon at around 2329. The S&P 500 at that point reached 1308 and change, which was bettered by just a fraction later in the day, but not confirmed on the Nasdaq 100. In any case, the rest of the day was spent backing and filling, pulling back just a little bit in orderly fashion. They tried to rally late in the session, which put the SPX at new highs, but not the NDX. In the last 10 minutes they rolled back, gave back some of the gains, but still the Dow closed over 12,000.


Net on the day, the Dow was up 148.23 at 12,040.16, the S&P 500 up 21.47 at 1307.59, and the Nasdaq 100 up 43.04 at 2324.95.

Advance-declines were 5 to 1 positive on the New York Stock Exchange, and 3 1/2 to 1 positive on Nasdaq. Up/down volume was about 7 to 1 positive on New York on total volume of a little over 1 billion. Nasdaq traded just under 2.5 billion shares and had a positive ratio of about 3 1/2 to 1.

Charts of the Day:

Tonight's charts cover our Boxer Shorts, including: CEL, CPLA, CREE, DLB, DORM, FFIV, GSIC, HXM, LPHI, MCD, SKX, SMSC, SXT, THOR and VMW.

Reviewing our Watchboard:

TheTechTrader.com board was mostly higher, with many point-plus gainers in the large-cap sector. Lululemon Athletica Inc. (LULU) advanced 4.52 to 73.20, and Chipotle Mexican Grill, Inc. (CMG) 2.98 to 221.90. Acme Packet, Inc. (APKT) rose 2.14 to 55.92, but was higher in the aftermarket on strong earnings. Apple Inc. (AAPL) gained 5.71 to 345.03, Amazon.com Inc. (AMZN) 2.47 to 172.11, and Travelzoo Inc. (TZOO) 2.45 to 49.45.

Other multiple-point gainers of note included ICU Medical, Inc. (ICUI) 4.02 to 43.08, Lexmark International Inc. (LXK) 4.61 to 39.45, Longtop Financial Technologies Limited (LFT) 2.74 to 35.64, ARM Holdings PLC (ARMH) 2.09 to 27.13, American Superconductor Corporation (AMSC) 2.59 to 29.86, Cavium Networks, Inc. (CAVM) 3.41 to 42.95, Manitowoc Co. Inc. (MTW) 3.68 to 17.11, Molycorp, Inc. (MCP) 1.77 to 48.58, E-Commerce China Dangdang Inc. (DANG) 1.39 to 29.69, Imation Corp. (IMN) 1.52 to 11.62, Dice Holdings, Inc. (DHX) 1.92 to 14.98, and Focus Media Holding Ltd. (FMCN) 1.23 to 26.14.

In addition, Quepasa Corp. (QPSA) was up 1.11 to 14.36, and Nanometrics Incorporated (NANO) 1.30 to 18.42.

The percentage-gain leaders today were TravelCenters of America LLC (TA), up 4.69 to 8.94, a 110% gain, and Silicon Motion Technology Corp. (SIMO), up 1.94 to 7.50, or 35%.

There were many other large fractional gainers, too numerous to mention.

On the downside, SodaStream International Ltd. (SODA) lost 1.10 to 41.89, but hit a new all-time high earlier in the session at 44.78, so a reversal session there. China MediaExpress Holdings, Inc. (CCME) was another 1.18 lower to 16.66.

Ultra-short ETF iPath S&P 500 VIX Short-Term Futures ETN (VXX) got smacked for 1.55 to 30.48, the Direxion Daily Emrg Mkts Bear 3X Shares (EDZ) lost 1.65 to 20.83, and the Direxion Daily Small Cap Bear 3X Shares (TZA) dropped 1.07 to 14.45.

Stepping back and reviewing the hourly chart patterns, the indices ran sharply in the morning and by midday reached their session highs, consolidated the rest of the day, tried a late rally but couldn't breakout, and then rolled over in the last 10 minutes. But still, a fantastic gain today.

It was a very strong day for the bulls as overhead resistance from several days was taken out, and the highs were taken out on the S&P 500 as they hit new 2 1/2-year highs.

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