Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Is Stock Market Setting Up for a Blow-Off Top? - 29th May 20
Strong Signs In The Mobile Gaming Market - 29th May 20
Last Clap for NHS and Carers, Sheffield UK - 29th May 20
The AI Mega-trend Stocks Investing - When to Sell? - 28th May 20
Trump vs. Biden: What’s at Stake for Precious Metals Investors? - 28th May 20
Stocks: What to Make of the Day-Trading Frenzy - 28th May 20
Why You’ll Never Get Another Stimulus Check - 28th May 20
Implications for Gold – 2007-9 Great Recession vs. 2020 Coronavirus Crisis - 28th May 20
Ray Dalio Suggests USA Is Entering A Period Of Economic Decline And New World Order - 28th May 20
Europe’s Coronavirus Pandemic Dilemma - 28th May 20
I Can't Pay My Payday Loans What Will Happen - 28th May 20
Predictive Modeling Suggests US Stock Markets 12% Over Valued - 27th May 20
Why Stocks Bear Market Rallies Are So Tricky - 27th May 20
Precious Metals Hit Resistance - 27th May 20
Crude Oil Cuts Get Another Saudi Boost as Oil Demand Begins to Show Signs of Life - 27th May 20
Where the Markets are heading after COVID-19? - 27th May 20
Silver Springboards Higher – What’s Next? - 26th May 20
Stock Market Key Resistance Breakout Is Where the Rubber Meets the Road - 26th May 20
5 Ways To Amp Up Your CFD Trading Today - 26th May 20
The Anatomy of a Gold Stock Bull Market - 26th May 20
Stock Market Critical Price Level Could Soon Prompt A Big Move - 25th May 20
Will Powell Decouple Gold from the Stock Market? - 25th May 20
How Muslims Celebrated EID in Lockdown Britain 2020 - UK - 25th May 20
Stock Market Topping Behavior - 24th May 20
Fed Action Accelerates Boom-Bust Cycle; Not A Virus Crisis - 23rd May 20
Gold Silver Miners and Stocks (after a quick drop) Ready to Explode - 23rd May 20
3 Ways to Prepare Financially for Retirement - 23rd May 20
4 Essential Car Trade-In Tips To Get The Best Value - 23rd May 20
Budgie Heaven at Bird Land - 23rd May 20
China’s ‘Two Sessions’ herald Rebound of Economy - 22nd May 20
Signs Of Long Term Devaluation US Real Estate - 22nd May 20
Reading the Tea Leaves of Gold’s Upcoming Move - 22nd May 20
Gold, Silver, Mining Stocks Teeter On The Brink Of A Breakout - 21st May 20
Another Bank Bailout Under Cover of a Virus - 21st May 20
Do No Credit Check Loans Online Instant Approval Options Actually Exist? - 21st May 20
An Eye-Opening Perspective: Emerging Markets and Epidemics - 21st May 20
US Housing Market Covid-19 Crisis - 21st May 20
The Coronavirus Just Hit the “Fast-Forward” Button on These Three Industries - 21st May 20
AMD Zen 3 Ryzen 9 4950x Intel Destroying 24 core 48 thread Processor? - 21st May 20
Dow Stock Market Trend Analysis and Forecast - 20th May 20
The Credit Markets Gave Their Nod to the S&P 500 Upswing - 20th May 20
Where to get proper HGH treatment in USA - 20th May 20
Silver Is Ensured A Prosperous 2020 Thanks To The Fed - 20th May 20
It’s Not Only Palladium That You Better Listen To - 20th May 20
DJIA Stock Market Technical Trend Analysis - 19th May 20
US Real Estate Showing Signs Of Covid19 Collateral Damage - 19th May 20
Gold Stocks Fundamental Indicators - 19th May 20
Why This Wave is Usually a Market Downturn's Most Wicked - 19th May 20
Gold Mining Stocks Flip from Losses to 5x Leveraged Gains! - 19th May 20
Silver Price Begins To Accelerate Higher Faster Than Gold - 19th May 20
Gold Will Soar Soon; World Now Faces 'Monetary Armageddon' - 19th May 20

Market Oracle FREE Newsletter

Coronavirus-stocks-bear-market-2020-analysis

Stock Market Nice Recovery from Morning Declines

Stock-Markets / Stock Markets 2015 Jun 02, 2015 - 12:07 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices started the day off with a very sharp decline, breaking two levels of support, but within an hour had stabilized, and then reversed sharply, taking the Nasdaq 100 from 4490 to over 4535, a 45-point rally in a 3-wave run. They consolidated midafternoon as the S&P 500 made a nominal new high, but the NDX could not confirm it, and rolled over in the last hour to pare back the gains. Nevertheless, it was still a positive session, but narrowly so.


Net on the day, the Dow was up 29.69 at 18,040.37, 65 points off its high. The S&P 500 was up 4.34 at 2111.73, 8 points off its high. The Nasdaq 100 was up 13.59 at 4521.85, 14 points off its high.

Advance-declines were 8 to 7 positive on New York Stock Exchange and flat on Nasdaq.

Up/down volume was 15 to 14 positive on New York, with total volume of just under 3 billion shares. Nasdaq traded 1.8 billion shares, and had a 4 to 3 positive volume ratio.

It was a disappointing close, but a nice recovery from the morning declines.

TheTechTrader.com board was narrowly mixed. Among the large-cap stocks that we follow Google Inc. (GOOG) was up 1.88 to 533.99, Apple Inc. (AAPL) up just 26 cents to 130.54, and Amazon Inc. (AMZN) 1.69 to 430.92. Priceline.com (PCLN) lost 5.38 to 1166.66, and Netflix Inc. (NFLX) gave back 1.04 to 623.02. Tesla Inc. (TSLA) was off 1.35 to 249.45.

Heron Therapeutics, Inc. (HRTX) jumped 4.61 to 24.37, Advaxis, Inc. (ADXS), on an FDA clearance, climbed 3.61 to 28.77, and GoPro, Inc. (GPRO), after announcing a new camera, shot higher to 58.52, up 3.06.

Facebook, Inc. (FB) bounced 1.10 to 80.29, and Bristol-Myers Squibb Company (BMY) gained 1.88 to 66.48.

On the downside, Splunk, Inc. (SPLK) was down 1.16 to 66.46, Cyber-Ark Software Ltd. (CYBR), in a weak security group, down 1.47 to 60.72, and Esperion Therapeutics, Inc. (ESPR) 3.48 to 104.03.

Checking the TheTechTrader.com percent-gain leaderboard, low-priced ITT Educational Services Inc. (ESI) bounced 1.15 to 5.53, or 27%, on 9 million shares. CorMedix, Inc. (CRMD) gained 1.01 to 7.10, or 17%, on 1.3 million shares, reaching as high as 7.28 earlier in the day. SuperCom Ltd. (SPCB) spiked to 13.10 before pulling back to 12.09, up 1.28, or 12%.

ImmunoGen, Inc. (IMGN), on positive drug news, exploded 6.46 to 15.44, or 72%, on 24.4 million shares. Ignyta, Inc. (RXDX) ran, and ran hard to 15.64, then pulling back and closing up 5.92 to 14.90, or 66%, on 4.8 million shares. SINA Corporation (SINA) closed strong, up 9.48 to 50.21, or 23%, on 13 million shares.

Among other gainers, HomeAway, Inc. (AWAY) jumped 2.29 to 30.36, Net 1 Ueps Technologies Inc. (UEPS) advanced 1.41 to 15.91.

The Direxion Daily Russia Bear 3X ETF (RUSS) gained 2.87 to 34.28.

Stepping back and reviewing the hourly chart patterns, the indices came down in a 3-wave decline sharply early on, but recovered in a 3-wave advance, taking back all of the losses, and then some, only to give it all back at the end of the day. Still, they finished on a positive note, but disappointingly so.

Harry

Good Trading!

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) 2015 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

© 2005-2019 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

6 Critical Money Making Rules