Best of the Week
Most Popular
1.Gold Price Crash Through Key Support, Crude Oil in Freefall - Clive_Maund
2.Marc Faber Warns Japan's Bond-Buying Program is a Ponzi Scheme - Bloomberg
3.Silver Price and Powerful Forces - DeviantInvestor
4.Stocks Bear Market Catastrophe as Stocks Flash Crash to New All Time Highs - Nadeem_Walayat
5.Marc Faber Warns Not to Hold Any Gold in the U.S. - GoldCore
6.U.S. Housing Market San Francisco at Critical Mass - Harry_Dent
7.Global Scramble For Silver - Coins “Hard To Get,” “Premiums Likely To Jump” - GoldCore
8.Major World Stock Market Indices Analysis: SPY, QQQ, DAX, FTSE, CAC, HSI - Michael_Noonan
9.Japan's kaput?! - Axel_Merk
10.Tesco Empire Strikes Back, £5 off £40 Discount Voucher Spend Explained, Exclusions Warning! - Nadeem_Walayat
Last 5 days
All Hail the King U.S. Dollar - Trend Forecast - 24th Nov 14
Where Is China Economy On The Map Exactly? - 24th Nov 14
Most of The World Economies Panic - Is The US Next? - 24th Nov 14
Stock Market Exhaustion Gap? - 24th Nov 14
Gold Golden Gains Come After The Pain - 24th Nov 14
Crude Oil and Stock Market Setting The Stage For The Next Recession - 23rd Nov 14
This Publicly-Owned Bank Is Outperforming Wall Street - 23rd Nov 14
Who’s Ready For $30 Crude Oil Price? - 23rd Nov 14
Strategic, Methodological and Developmental Importance of Knowledge Consumption - 23rd Nov 14
Manipulated Stock Market Short Squeezes to Another All Time High - The China Syndrome - 23rd Nov 14
Gold Price 2015 - 22nd Nov 14
Stock Market Medium Term Top? - 22nd Nov 14
Is the Gold And Silver Golden Rule Broken? - 22nd Nov 14
Malaysia's Subsidy and Budget Deficit Conundrum - 22nd Nov 14
Investors Hated Gold at Precisely the Wrong Time: What About Now? - 22nd Nov 14
Gold and GLD ETF Selloff - 22nd Nov 14
Currency Wars, the Ruble and Keynes - 21st Nov 14
Stock Market Investor Sentiment in The Balance - 21st Nov 14
Two Biotech Stocks Set to Double on One Powerful Catalyst - 21st Nov 14
Swiss Gold Poll Likely Tighter Than Polls Suggest - 21st Nov 14
Gold's Volatility and Other Things to Watch - 21st Nov 14
Australia Stock Market and AUD Dollar Analysis (ASX200 and AUDUSD) - 21st Nov 14
New Algae Research May Have Uncovered an “Energy Forest” Under the Sea - 21st Nov 14
The Cultural and Political Consequences of Fiat Money - 20th Nov 14
United States Social Crisis - No One Told You When to Run, You Missed the Starting Gun! - 20th Nov 14
Euro-Zone Tooth Fairy Economics, Spain Needs to leave the Euro - 20th Nov 14
Ebola Threat Remains a Risk - New Deaths in Nebraska and New York - 20th Nov 14
Stock Market and the Jaws of Life or Death? - 20th Nov 14
Putin’s World: Why Russia’s Showdown with the West Will Worsen - 20th Nov 14
Making Money While The World Burns - 20th Nov 14
Why This "Quiet Zone" Is Now Tech Stocks Biggest Profit Sector - 20th Nov 14
My Favorite Stock McDonalds Just Got Kicked Off My “Buy” List - 19th Nov 14
European Economies in Perpetual State of Shock, What's Scarier Than Deflation? - 19th Nov 14
Breakfast with a Lord of War and Nuclear Weapons - 19th Nov 14
The U.S. Economy’s Ebb and Flow - 19th Nov 14
What You Need to Know Before Investing in Alibaba - 19th Nov 14
Forget About Crude Oil Price Testing 2009 Low - 19th Nov 14
What Blows Up First? Part 5: Shale Oil Junk Bonds - 19th Nov 14
Bitcoin Price Did We Just See an Important Slump? - 18th Nov 14
How to Profit From Oversold Crude Oil Price - 18th Nov 14
Stock Valuations Outrunning Profits Growth - And the Band Played On - 18th Nov 14
ECB Buy Gold Bullion? Japan's Monetary Policy Dubbed "Ponzi Scheme" - 18th Nov 14
Gold, Silver, Crude and S&P Ending Wedge Patterns - 18th Nov 14
How High Could USD/JPY Go? - 18th Nov 14
On Obama and the Nature of Failed Presidencies - 18th Nov 14
Globalism Free Trade Immigration Connection - 18th Nov 14
An Epiphany From Hell - Buy Gold and Silver - 18th Nov 14
Too Difficult to Get a U.S. Home Loan - 18th Nov 14
Has the Gold Bear Trap Been Set - 18th Nov 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Gold Report 2015

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

© 2005-2014 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

Free Report - Financial Markets 2014