Best of the Week
Most Popular
1.Canada Real Estate Bubble - Harry_Dent
2.UK House Prices ‘On Brink’ Of Massive 40% Collapse - GoldCore
3.Best Cash ISA for Soaring Inflation, Kent Reliance Illustrates the Great ISA Rip Off - Nadeem_Walayat
4.Understanding true money, Pound Sterling must make another historic low, Euro and Gold outlook! - Marc_Horn
5.5 Maps That Explain The Modern Middle East - GEORGE FRIEDMAN
6.Gold Back With A Vengeance As Bitcoin Bubble Bursts - OilPrice_Com
7.Gold Summer Doldrums - Zeal_LLC
8.Crude Oil Trade & Nasdaq QQQ Update - Plunger
9.Gold And Silver – Why No Rally? Lies, Lies, And More Lies - Michael_Noonan
10.UK Election 2017 Disaster, Fake BrExit Chaos, Forecasting Lessons for Next Time - Nadeem_Walayat
Last 7 days
Saving Illinois: Getting More Bang for Its Bucks - 24th Jul 17
3 Stocks Sectors That Will Win in The Fed’s Great Balance-Sheet Unwind - 24th Jul 17
Activist Investors Are Taking Over Wall Street, Procter and Gamble Might Never Remain the Same - 24th Jul 17
Stock Market Still on Track - 24th Jul 17
Last Chance For US Dollar To Rally - 24th Jul 17
UK House Prices Momentum Crash Warns of 2017 Bear Market - Video - 22nd Jul 17
Crude Oil, Gold, ETFs & more: Pro-grade Market Forecasts - 22nd Jul 17
Warning: The Fed Is Preparing to Crash the Financial System Again - 21st Jul 17
Gold / Silver Shorts Extreme - 21st Jul 17
GBP/USD Bearish Factors - 21st Jul 17
Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing - 21st Jul 17
Is It Worth Investing in Palladium? - 21st Jul 17
UK House Prices Momentum Crash Threatens Mini Bear Market 2017 - 21st Jul 17
The Fed May Show Trump No Love - 20th Jul 17
The 3 Best Asset Classes To Brace Your Portfolio For The Next Financial Crisis - 20th Jul 17
Gold Stocks and Bonds - Preparing for THE Bottom - 20th Jul 17
Millennials Can Punt On Bitcoin, Own Safe Haven Gold For Long Term - 20th Jul 17
Trump Has Found A Loophole To Rewrite Trade Agreements Without Anyone’s Permission - 20th Jul 17
Basic Materials and Commodities Analysis and Trend Forecasts - 20th Jul 17
Bitcoin PullBack Is Over (For Now): Cryptocurrencies Gain Nearly A 50% In Last 48 Hours - 19th Jul 17
AAPL's 6% June slide - When Prices Are Falling, TWO Numbers Matter Most - 19th Jul 17
Discover Why A Major American Revolution Is Brewing - 19th Jul 17
iGaming – Stock Prices - 19th Jul 17
The Socionomic Theory of Finance By Robert Prechter - Book Review - 18th Jul 17
Ethereum Versus Bitcoin – Which Cryptocurrency Will Win The War? - 18th Jul 17
Accepting a Society of Government Tyranny - 18th Jul 17
Gold Cheaper Than Buying Greek Villas in 2012 - 18th Jul 17
Why & How to Hedge the Growing Risks of Holding Stocks - 18th Jul 17
Relocation: Everything You Need to do for a Smooth Transition Abroad - 17th Jul 17
A Former Lehman Brothers Trader: It’s Time To Buy Brick And Mortar Retailers - 17th Jul 17
Bank Of England Warns “Bigger Systemic Risk” Now Than 2008 - 17th Jul 17
Bitcoin Price “Deja Vu” Corrective Sequence - 17th Jul 17
Charting New Low in Speculation in Gold and Silver Markets - 17th Jul 17
Bitcoin Crash - Is This The End of Cryptocurrencies? - 17th Jul 17
The Fed's Inflation Nightmare Scenario - 17th Jul 17
Billionaire Investors Backing A Marijuana Boom In 2017 - 17th Jul 17
Perfect Storm - This Fourth Turning has Over a Decade of Continuous Storms to Come - 17th Jul 17
Gold and Silver Biggest Opportunity Since Late 2015, Last Chance at These Prices - 17th Jul 17
Stock Market More to Go - 17th Jul 17
Emerging Markets & Basic Materials Stocks Breaking Out Together - 16th Jul 17
Stock Market SPX Uptrending Again After Microscopic Correction - 15th Jul 17

Market Oracle FREE Newsletter

Crude Oil, Gold, ETFs & more: Pro-grade Market Forecasts

US Interest Rates Up Quarter Percent, Stock Market Loved It

Stock-Markets / Stock Market 2017 Mar 16, 2017 - 10:13 AM GMT

By: Harry_Boxer

Stock-Markets

Fed Yellen raised interest rates a quarter percent today and the stock market loved it. The Nasdaq 100 popped early, and then pulled back, but the S&P 500 kept going up all morning. By midday, just before the FOMC, they pulled back just a little going into that meeting, and then exploded. They pulled back again and rallied sharply. Only at the end of the day did they pull back a little to pare back the profits.


Net on the day, the Dow was up 112.73 at 20,950.10. The S&P 500 was up 19.81 to 2385.26. The Nasdaq 100 was up 34.08 at 5416.25.

Advance-declines were almost 6 to 1 positive on the New York Stock Exchange, and 6 to 1 positive on the Nasdaq. Up/down volume was 7 to 1 positive on New York, total volume of 3.85 billion shares traded. The Nasdaq traded 1.9 billion shares and had a 2 1/2 to 1 positive volume ratio.

TheTechTrader.com board was mostly red today, however, Priceline.com (PCLN) dropped 1.02 to 1767.98, while Alphabet Inc. (GOOG) was up 1.58 to 847.20, Apple Inc. (AAPL), reaching a new all-time high, up 1.47 to 140.46, Amazon.com, Inc. (AMZN) up 44 cents to 852.97, and Netflix, Inc. (NFLX) 2.06 to 145.25.

Baidu, Inc. (BIDU) fell 80 cents to 172.04, Facebook, Inc. (FB) popped 40 cents to 139.72, and First Solar, Inc. (FSLR) snapped back 93 to 33.00.

Downgraded today, Tesla Motors, Inc. (TSLA) dropped 2.27 to 255.73.

Biotech’s did great today. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 3.11 to 54.56, with a high of over 55.00 at one point. Bluebird bio, Inc. (BLUE) was up 5.85 to 97.85, Clovis Oncology Inc. (CLVS) up 4.98 to 71.93, Supernus Pharmaceuticals, Inc. (SUPN) up 1.15 to 28.50, and Xencor, Inc. (XNCR) 1.00 to 24.82.

Other stocks to the upside included Checkpoint Therapeutics Inc. (CKPT), up 1.19 to 100.73, Deere & Company (DE), one of our swing trades, up 1.58 to 110.79, Exelixis, Inc. (EXEL) 1.06 to 22.80, Shopify Inc. (SHOP) 1.01 to 64.84, Terex Corporation (TEX) 1.06 to 31.09, and United States Steel Corp. (X) 1.94 to 37.66.

On the downside, Edits Medicine Inc. (EDIT) got hit by an article in Forbes, down 1.40 to 24.64, and Achaogen, Inc. (AKAO) got hammered down 2.85 to 22.40 on a secondary.

Checking TheTechTrader.com percent-gain leaderboard, Cerulean Pharma Inc. (CERU) ran 74 cents, or 33%, to 2.98, on 3.1 million shares traded. GSI Technology, Inc. (GSIT) bounced 89 cents, or 11%, to 8.89. magicJack VocalTec Ltd. (CALL) climbed 75 cents, or 10%, to 8.10.

CARBO Ceramics Inc. (CRR) snapped back 1.11, or 10%, to 11.80, on 1.1 million shares traded.

The Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG) had a great day today as gold rallied, jumping 1.89, or 33%, to 7.61, on 137 million shares traded.

Among other gainers, Fogo de Chao, Inc. (FOGO) was up 1.35 to 14.60, U.S. Silica Holdings, Inc. (SLCA) up 3.18 to 47.21, and many other gainers, just too many to show.

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

© 2005-2017 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