Best of the Week
Most Popular
1.North Korean Chinese Proxy vs US Military Empire Trending Towards Nuclear War! - Nadeem_Walayat
2.Researchers Find $10 Billion Hidden Treasure In A Dead Volcano - OilPrice_Com
3.Gold and Silver : The Battle for Control - Rambus_Chartology
4.Asda Sales Collapse and Profits Crash! UK Retailer Sector Crisis 2017 - Nadeem_Walayat
5.Deep State Conspiracy or Chaos - James_Quinn
6.The Stock Market Guns of August, Trade Set-Up & Removing your Rose Tinted Glasses - Plunger
7.Gold Stocks Coiled Spring - Zeal_LLC
8.Neil Howe: The Amazon-Walmart Rivalry Will Determine the Future of Retail - John_Mauldin
9.Crude Oil Price Precious Metals Link in August - Nadia_Simmons
10.Gold and Silver Precious Metals Nearing Breakout - Jordan_Roy_Byrne
Last 7 days
The Stock Market No Longer Cares About Trump - 21st Aug 17
The Coming Boom Of Productivity Will Get Our Economy Back On Track - 21st Aug 17
Buffett Sees Stock Market Crash Coming? His Cash Speaks Louder Than Words - 21st Aug 17
This Could Be The Biggest Gold Discovery In History - 21st Aug 17
Stock Market Correction in Full Swing - 21st Aug 17
Seeking Confirmations – US Stock Market - 21st Aug 17
The changing demographic of online gamblers - 21st Aug 17
Gold is a coiled spring… the breakout is here, fundamentals are in place, technicals are compelling - 20th Aug 17
A Midsummer Night's Dream: Buy Gold and Silver - 20th Aug 17
Gold Mining Stocks 2017 Fundamentals - 20th Aug 17
EIA Weekly Report and Crude Oil - 19th Aug 17
4 Insights for Adjusting Your Portfolio in a Rate-hike Environment - 19th Aug 17
Gold Direction Indicator - 19th Aug 17
Historical Inevitability and Gold and Silver Ownership - 19th Aug 17
You Are Being Lied To About “Low” Gold Demand - 19th Aug 17
This is Why Cocoa's Crash Was a Perfect Setup - 19th Aug 17
Gold, Silver Consolidate On Last Weeks Gains, Palladium Surges 36% YTD To 16 Year High - 19th Aug 17
North Korea Is Far From Being Irrational… It Has A Plan - 18th Aug 17
US Civil War - FUNCTIONAL ILLITERATES TRYING TO ERASE HISTORY - 18th Aug 17
Bitcoin Hits New All-Time High Over $4,400 As It Catches Paypal In Total Market Cap - 17th Aug 17
3 Psychological Ingredients behind Great Web Content - 17th Aug 17
The War on Cash - Rogoff, Orwell and Kafka - 17th Aug 17
The Stock Market Guns of August, Trade Set-Up & Removing your Rose Tinted Glasses - 16th Aug 17
Stocks, Bonds, Interest Rates, and Serbia, Camp Kotok 2017 - 16th Aug 17
U.S. Stock Market: Sunrise ... Sunset - 16th Aug 17
The Next Tech Crash Could Delay Your Retirement by a Decade - 15th Aug 17
Gold and Silver Precious Metals Nearing Breakout - 15th Aug 17
North Korea Showdown: Pivotal Market Turning Point - 15th Aug 17
Tech Stocks DOT COM Bubble Do-Over? - 14th Aug 17
Deep State Conspiracy or Chaos - 14th Aug 17
From the Trans-Atlantic Axis and the Trans-Asian Axis - 14th Aug 17
Stock Market Intermediate Correction Underway - 14th Aug 17
The Islamic State Jihadi Pivot to Asia - 13th Aug 17
Potential Pivots Upcoming for Stocks and Gold - 13th Aug 17
North Korean Chinese Proxy vs US Military Empire Trending Towards Nuclear War! - 12th Aug 17

Market Oracle FREE Newsletter

3 Videos + 8 Charts = Opportunities You Need to See - Free

Stock Market Last Hour Rally Puts Indices Ahead

Stock-Markets / Stock Markets 2016 Jan 12, 2016 - 12:05 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices started the week off on a very negative note with a pop at the opening, an immediate 5-wave decline, and by mid-afternoon they reached their lows at 4220 Nasdaq 100 and 1901 S&P 500. A bounced ensued, followed by a pullback retest that was successful, and then an explosive market rally late in the session, taking the Nasdaq 100 from 4230 to 4300, 70 points straight up in less than 25 minutes, and the S&P 500 went from 1905 to 1930. They pulled back a little into the close, but finished positive on the session.


Net on the day, the Dow was up 52.12 at 16,398.57, 65 points off the low. The S&P 500 was up 1.64 to 1923.67. The Nasdaq 100 was up 12.77 to 4283.55, 22 points off the low.

Advance-declines were negative by 2 to 1 on New York Stock Exchange and 5 to 3 negative on Nasdaq. Up/down volume was 3 to 2 negative on New York on 4 1/2 billion shares traded, and the most volume all year at 2 billion shares. The Nasdaq traded 3.3 billion shares and had a 3 to 2 negative volume ratio, a big comeback off the lows.

TheTechTrader.com board was mixed. Leading the way to the upside, Google Inc. (GOOG) was up 1.56 to 716.03, Apple Inc. (AAPL) up 1.57 to 98.53, Amazon.com Inc. (AMZN) up 10.69 to 617.74, and Netflix, Inc. (NFLX) 3.58 to 114.97.

The ProShares UltraShort Bloomberg Crude Oil (SCO) ran 18.26 to 183.30s, reaching as high as 184.41.

On the downside, Priceline Inc. (PCLN) was down just 68 cents to 1136.28, Tesla Motors, Inc. (TSLA) down 3.15 to 207.85, and Baidu, Inc. (BIDU) down 97 cents to 170.37.

In addition, Globant (GLOB) lost 2.16 to 33.35, Canadian Solar Inc. (CSIQ) had a tough session in the solar sector, 1.14 to 22.36.

Bbiotech's had a bad day. Pacific Biosciences of California, Inc. (PACB) was down 1.19 to 11.42, NewLink Genetics Corporation (NLNK) dropped 3.01 to 27.56, Intra-Cellular Therapies, Inc. (ITCI) 2.51 to 42.84.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) lost 2.24 to 11.08.

Checking the TheTechTrader.com percent-gain leaderboard, leading the way Acorn International, Inc. (ATV) gained 3.32 to 7.33, or 83%, on 8.4 million shares, and reaching as high as 10.35 at one point. Day trade Sientra, Inc. (SIEN) advanced 1.36 to 7.94, or 21%, on 2.3 million shares.
FXCM Inc. (FXCM) ran 2.96 to 16.55, or 22%, on 1.2 million shares.

The Direxion Daily S&P Biotech Bear 3X ETF (LABD) jumped as high as 58.78 to close up 7.90 to 55.01, or 17%, on 1 million shares.

The VelocityShares 3x Inv Natural Gas ETN (DGAZ) bounced 1.24 to 11.36, or 12%, on 4.4 million shares. The Direxion Daily Gold Miners Bear 3X ETF (DUST) climbed 1.62 to 15.17, or 12%, on 10.5 million shares, and the Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) popped 2.78 to 28.43, or 11%.

Stepping back and reviewing the hourly chart patterns, after a pop at the opening that failed at resistance, the indices came down in a nice 5-wave decline, and by mid-afternoon reached their session lows, started a 3-wave rally, the last leg being the strongest.

Let's see if that means a turnaround, and if there is any follow-through tomorrow.

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) 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

© 2005-2017 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