Best of the Week
Most Popular
1.The Trump Reset, US Empire's Coming Economic, Cyber and Military War With China (2/2) - Nadeem_Walayat
2.Now Is the Time to Buy Gold - 5th Jan 17 - John Grandits
3.CIA Planning Rogue President Donald Trump Assassination? Elites "Manchurian Candidate" Plan B - Nadeem_Walayat
4.The Trump Reset - Regime Change, Russia the Over Hyped Fake News SuperPower (Part1) - Nadeem_Walayat
5.Most Popular Financial Markets Analysis of 2016 - Stock Market Crash Postponed Again - Nadeem_Walayat
6.No UK House Prices Brexit Crash 2016 Despite London Weakness, Forecast 2017 - Nadeem_Walayat
7.President Trump Understands the NSA, CIA... LIE, America's Intelligence Agencies Crime Syndicate! -Nadeem_Walayat
8.President Donald Trump's 2017 New Year Message, BBC Fake News, Was 2016 a Dream? - Nadeem_Walayat
9.Major Stocks Bear Market Still Looms - Zeal_LLC
10.Biased 2017 Forecasts - Debt, Housing and Stock Market (1/2) - James_Quinn
Last 7 days
Bonds, Dollar, Stocks, Gold, Silver Major Markets at Turning Points - 19th Jan 17
Populism; the Danger? What About Debt? - 19th Jan 17
Gold Price 50-DMA Breakout - 19th Jan 17
Turkey, 'Axis of Gold' and End of US Dollar Hegemony - 19th Jan 17
The Most Important Market Chart on the Planet - 19th Jan 17
Trump Deficits Will Be Huge - 19th Jan 17
Stock Market Trading Patience Pays Off with CHK Using Momentum Reversals - 19th Jan 17
Gold - How to "Buy Low and Sell High" Like a Pro - 19th Jan 17
State of the Global Stock, Financial and Commodity Markets Report 2017 - 19th Jan 17
The Hunt for Russia's Next Enemy - 18th Jan 17
Returning Gold Bulls - 18th Jan 17
Biotech Breakthrough Could Create A $11.4 Trillion Opportunity - 18th Jan 17
Bitcoin and Gold - Outlook, Volatility and Safe Haven Diversification - 17th Jan 17
Stock Market Uptrend on Borrowed Time - 17th Jan 17
The One Stock to Retire On - 17th Jan 17
Trump anti-Communist Counter Revolution - 17th Jan 17
US Stock Market Update as the Trump Inauguration Approaches - 17th Jan 17
The American Crisis - Common Sense 2017 - 17th Jan 17
Obama Leaves, Hope Arrives, Will Stupid Stay? - 17th Jan 17
Damage Inflicted by Precious Metals Manipulation Is in the “Multi Billions” - Keith Neumeyer - 17th Jan 17
Gold Price Forecast 2017 Update - Video - 17th Jan 17
The Story of the U.S. Regime Change Plan in the Philippines - 16th Jan 17
Gold Price 2017 Trending Towards $1375 as Forecast - 16th Jan 17
'Deep State' CIA Director States We are Not NAZI's, Warns Trump Does Not Understand Russian Threat - 15th Jan 17
UK House Prices Forecast 2017 - Crash or Bull Market? - Video - 15th Jan 17
SPX Stocks Bull Market Update - 14th Jan 17
President Trump vs the Deep State that Hides in Plain Sight - 14th Jan 17
The Impact of Sir Alex Ferguson's Retirement on Man United's Share Price - 14th Jan 17
What Can Stock Market Tell You About Politics? - 13th Jan 17
Big Gold Buying Coming 2017 - 13th Jan 17
A Bullish Case for Gold 2017 - 13th Jan 17
Will Stocks Bull Market Continue to Charge or is it Time to Sell the News - 13th Jan 17
Gold and Silver Off To Shining Start to 2017 - 13th Jan 17
Gold’s Fundamental Outlook for 2017 - 13th Jan 17
Is trading stocks and shares just as luck-based as roulette? - 13th Jan 17
Trump CIA Like Nazi Germany - Fake MI6 Intelligence leaked to Fake News Mainstream Media - 13th Jan 17
USD in Decline. SPX and TNX May Follow - 12th Jan 17
CIA War On Trump - Leaks Fake MI6 Intelligence to Fake News Broadcast Media - 12th Jan 17

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

State of Global Markets 2017 - Report

Apple, Nasdaq Pressure Stock Market

Stock-Markets / Stock Markets 2012 Apr 17, 2012 - 01:42 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market started the week off on a very soar note, particularly on the Nasdaq 100, as Apple Inc. (AAPL) pressured stocks all day and dropped a whopping 25.10 to under 600 at 580.13, just 2 points off its low and way off its high. The bottom line is that weakness in Apple and some of the other market generals, including Intel Corporation (INTC), put a lot of pressure on the NDX.

The day started out with a sharp move up quickly, followed by a hard rollover into the session lows on the NDX at 2661. The S&P 500 at that point was under 1366. They bounced, pulled back, and then bounced again to nominal new highs on Nasdaq 100, and even more so on the S&P 500, reaching 1376 from 1365, or around 11 points. In the last couple hours, though, they drifted lower in an orderly fashion, and closed near the afternoon lows on both indices, sliding substantially on the Nasdaq 100.


Net of the day, the Dow was up 71.82 at 12.921.41. The S&P 500 closed down 69 cents at 1369.57, only 4 points off the low and the Nasdaq 100 fell 28.89 at 2670.10, about 10 points off the low.

Advance-declines were 17 to 13 positive on the New York Stock Exchange, and 1313 up and 1177 down on Nasdaq. So, despite the Nasdaq drop, much of it attributed to Apple and a few others for the most part, Nasdaq performed fairly well. Up/down volume, because of Apple, was 3 to 2 negative.

Charts of the Day: Click below to view video.

Reviewing our Watchboard:

TheTechTrader.com board was mostly negative. Cobalt International Energy, Inc. (CIE) dropped 2.03 to 26.35, Netflix, Inc. (NFLX) 3.02 to 101.15, and SodaStream International Ltd. (SODA) 1.21 to 34.41, despite being up early on news of a new product line.

On the upside, there were plenty of gainers today. Low-priced Endocyte, Inc. (ECYT) did a deal with Merck, and exploded 3.82 to 7.62, or 100%, on 9.7 million shares. Hauppauge Digital, Inc. (HAUP) jumped 37 cents to 1.36, or 37.37%, on 2.1 million shares. Vringo, Inc. Common Stock (VRNG) gained 93 cents to 3.97, trading as high as 4.50, or 31%, on 19 million shares, on news that Mark Cuban buys a stake in the stock.

OptimumBank Holdings Inc. (OPHC) ran 60 cents to 2.60, or 30%. USA Technologies Inc. (USAT) jumped 25 cents to 1.62, or 19%, on 1.6 million shares. Stratasys Inc. (SSYS) blasted 5.23 to 41.21, or 15%, on 1.7 million shares. YRC Worldwide Inc. (YRCW) gained 85 cents to 7.18, or 13%.

In addition, 3D Systems Corporation (DDD) advanced 1.85 to 26.28, Conns Inc. (CONN) 1.08 to 18.69, Overseas Shipholding Group Inc. (OSG) 53 cents to 10.54, Reliance Steel & Aluminum Co. (RS) 2.36 to 54.43 on good earnings, Seagate Technology PLC (STX) 1.13 to 32.50, Georgia Gulf Corp. (GGC) 1.30 to 32.75, and Riverbed Technology, Inc. (RVBD) 1.00 even to 26.52.

Stepping back and reviewing the hourly chart patterns, the indices were up just at the opening, and then dropped sharply, bounced, retested, tried to rally in the afternoon, and then closed weakly for a lousy start to the week, particularly on Nasdaq.

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) 2012 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

© 2005-2016 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

Catching a Falling Financial Knife