Best of the Week
Most Popular
1.Are UK Savings Interest Rates Finally Starting to Rise? Best Cash ISA 2017 - Nadeem_Walayat
2.Inflation Tsunami - Supermarkets, Retail Sector Crisis 2017, EU Suicide and Burning Stocks - Nadeem_Walayat
3.Big Moves in the World Stock Markets - Big Bases - Rambus_Chartology
4.The Next Financial Implosion Is Not Going To Be About The Banks! - Gordon_T_Long
5.Why EU BrExit Single Market Access Hard line is European Union Committing Suicide - Nadeem_Walayat
6.Trump Ramps Up US Military Debt Spending In Preparations for China War - Nadeem_Walayat
7.Watch What Happens When Silver Price Hits $26...  - MoneyMetals
8.Stock Market Fake Risk, Fake Return? Market Crash? - 2nd Mar 17 - Axel_Merk
9.Global Inflation Surges, Central Banks Losing Control and Triggered the Wage Price Spiral? - Nadeem_Walayat
10.Why Gold Will Boom In 2017 - James Burgess
Last 7 days
Silver Mining Stock Fundamentals - 24th Mar 17
A Walk Down the Dark Road of Bad Government - 24th Mar 17
Is Stock Market Flash Crash Postponed Until Monday? - 24th Mar 17
Stock Market Bubble and Gold - 24th Mar 17
Maps Of Past Empires That Can Tell Us About The Future - 24th Mar 17
SNP Independent Scotland's Destiny With Economic Catastrophe, the English Subsidy - IndyRef2 - 24th Mar 17
Stock Market VIX Cycles Set To Explode March/April 2017 – Part II - 23rd Mar 17
Is Now a Good Time to Invest in the US Housing Market? - 23rd Mar 17
The Stock Market Is a Present-Day Version of Pavlov’s Dog - 23rd Mar 17
US Budget - There’s Almost Nothing Left To Cut - 23rd Mar 17
Stock Market Upward Reversal Or Just Quick Rebound Before Another Leg Down? - 23rd Mar 17
Trends to Look Out For as a Modern-day Landlord - 23rd Mar 17
Here’s Why Interstate Health Insurance Won’t Fix Obamacare / Trumpcare - 23rd Mar 17
China’s Biggest Limitations Determine the Future of East Asia - 23rd Mar 17
This is About So Much More Than Trump and Brexit - 23rd Mar 17
Trump Stock Market Rally Over? 20% Bear Drop By Mid Summer? - 22nd Mar 17
Trump Added $3 Trillion in Wealth to Stock Market Participants - 22nd Mar 17
What's Next for the US Dollar, Gold and Stocks? - 22nd Mar 17
MSM Bond Market Full Nonsense Mode as ‘Trump Trades’ Unwind on Schedule - 22nd Mar 17
Peak Gold – Biggest Gold Story Not Being Reported - 22nd Mar 17
Return of Sovereign France, Europe’s Changing Landscape - 22nd Mar 17
Trump Stocks Bull Market Rolling Over? You Were Warned! - 22nd Mar 17
Stock Market Charts That Scream “This Is It” - Here’s What to Do - 22nd Mar 17
Raising the Minimum Wage Is a Jobs Killing Move - 22nd Mar 17
Potential Bottoming Patterns in Gold and Silver Precious Metals Stocks Complex... - 22nd Mar 17
UK Stagflation, Soaring Inflation CPI 2.3%, RPI 3.2%, Real 4.4% - 21st Mar 17
The Demise of the Gold and Silver Bull Run is Greatly Exaggerated - 21st Mar 17
USD Decline Continues, Pull SPX Down as well? - 21st Mar 17
Trump Watershed Budget - 21st Mar 17
How do Client Acquisition Offers Affect Businesses? - 21st Mar 17
Physical Metals Demand Plus Manipulation Suits Will Break Paper Market - 20th Mar 17
Stock Market Uncertainty Following Interest Rate Increase - Will Uptrend Continue? - 20th Mar 17
Precious Metals : Who’s in Charge ? - 20th Mar 17
Stock Market Correction Continues - 20th Mar 17
Why The Status Quo Is Under Increasing Attack By 'Populist People Power' - 20th Mar 17
Why the SNP WILL Destroy Scotland, Exit UK Single Market for EU - IndyRef2 - 19th Mar 17
Crypto Craziness: Bitcoin Plunges on Fork Concerns, Steem Skyrockets and Dash Surges Above $100 - 19th Mar 17
What ‘Ice-Nine’ Means for Your Money - 19th Mar 17
Stock Market 4 Year Cycle - 18th Mar 17
The Only Article You Need to Read to Understand the Trump Phenomenon - 17th Mar 17
Janet Yellen Just Popped the Stock Market Bubble - 17th Mar 17
Financial Crisis, Steve Eisman: Smart, Lucky, Abrasive & Now One Of Them - 17th Mar 17
Gold Cup – Horse Racing’s Greatest Show, Gambling and ‘Going for Gold’ - 17th Mar 17
Trader Education Week - Free Event to Help You Learn to Spot Trading Opportunities - 17th Mar 17
$1.4 Trillion of SPX Notionals Due to Expire - 17th Mar 17
Preserving Order Amid Change in NAFTA, U.S. Sovereignty v. WTO - 17th Mar 17
3 Maps That Explain Why Syria Raqqa Battle Will Drag On - 17th Mar 17

Market Oracle FREE Newsletter

Elliott Wave Trading

Stock Market Quiet, Mixed Consolidation Day

Stock-Markets / Stock Markets 2016 Jan 11, 2017 - 04:08 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a very mixed, sloppy session, and finished the day on a sour note, with the S&P 500 unchanged today. The day started out with a move down, a very strong rally in the morning ensured, reaching a new all-time high on the 5050 Nasdaq 100. The S&P 500 couldn’t get back to Friday’s double-top high at 22.82, reaching 2279 today, and then rolled over to 2269. The Dow closed down, the S&P 500 closed flat, while the Nasdaq 100 closed slightly in the plus column.


Net on the day, the Dow was down 32.16 at 19,855.22, 100 points off the high. The S&P 500 was up .01 at 2268.91, 11 points off the high and 4 points off the low. The Nasdaq 100 was up 10.27 at 5035.17, 14 points off the high.

Advance-declines were 18 to 11 positive on the New York Stock Exchange, and 9 to 5 positive the Nasdaq. Up/down volume was 4 to 3 positive on New York, total volume of 3.5 billion shares traded. The Nasdaq traded 1.7 billion shares and had a 10 to 7 positive volume ratio.

TheTechTrader.com board was mixed. Priceline.com (PCLN) was up 5.61 to 1535.25, Apple Inc. (AAPL) up 12 cents 119.11, but Alphabet Inc. (GOOG) dropped 1.86 to 804.79, Amazon.com, Inc. (AMZN) gave back 1.02 to 795.90, and Netflix, Inc. (NFLX) closed down 1.06 to 129.89.

Baidu, Inc. (BIDU) gained 3.15 to 180.31, Facebook, Inc. (FB) fell 55 cents to 124.35, and First Solar, Inc. (FSLR) closed negative by 18 cents to 33.39.

Tesla Motors, Inc. (TSLA) lost 1.41 to 229.87.

Other stocks to the upside included CoLucid Pharmaceuticals, Inc. (CLCD), up 1.55 to 35.00, Exelixis, Inc. (EXEL) up 1.33 to 18.91, U.S. Concrete, Inc. (USCR) 1.15 to 61.00, and United States Steel Corp. (X) 1.89 to 35.50.

On the downside, there were very fractional losers on our board today.

Checking TheTechTrader.com percent-gain leaderboard, Biocept, Inc. (BIOC) climbed 79 cents, or 77 1/2%, to 1.81, on 21.7 million shares traded.

ImmunoCellular Therapeutics, Ltd. (IMUC), after announcing management changes, popped 2.02, or 93%, to 4.20, on 1.4 million shares traded. GenVec, Inc. (GNVC) gained 3.82, or 77%, to 8.79, on 17 million shares traded.

Signal Genetics, Inc. (SGNL), on merger talks, exploded 12.69, or 265%, to 17.48, on 1.2 million shares traded.

Small biotech stocks and thinly-traded stocks were flying high today, and that’s not a good sign for the market, in my opinion. That said, they had an incredible day today, and the list of biotech stocks that did well today is many.

Stepping back and reviewing the hourly chart patterns, after opening lower, and rallying sharply in the morning, the indices backed off in the afternoon and closed lower on the Dow, flat on the S&P 500, and up a little on the Nasdaq 100.

It was a quiet, mixed session, and consolidation day, if nothing else.

Good Trading!

Harry

For more of Harry Boxer, sign up for a FREE 7-Day Trial to his Real-Time Technical Trading Diary.

(c) 2016 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