Best of the Week
Most Popular
1.Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - Jeff_Berwick
2.Fragile Stock Market Bull in a China Shop -James_Quinn
3.Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - Nadeem_Walayat
4.Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - Nadeem_Walayat
5.Government Finances and Gold - Cautionary Tale told in Four Charts - Michael_J_Kosares
6.Gold Stocks Winter Rally - Zeal_LLC
7.The Stock Market- From Here to Infinity? - Plunger
8.Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - MarketsToday
9.Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - Stewart_Dougherty
10.Finally, The Fall Of The House Of Saud - Jim_Willie_CB
Last 7 days
Universal Credits Christmas Scrooge Nightmare for Weekly Pay Recipients - 18th Nov 17
Perspective on the Gold/Oil Ratio, Macro Fundamentals and a Gold Sector Bottom - 18th Nov 17
Facebook Traders: Tech Giant + Technical Analysis = Thumbs Up - 18th Nov 17
Games Betting System For NCAA Basketball Sports Betting - Know Your Betting Limits - 18th Nov 17
Universal Credit Doomsday for Tax Credits Cash ISA Savers, Here's What to Do - 18th Nov 17
Gold Mining Stocks Fundamentals Q3 2017 - 17th Nov 17
The Social Security Inflation Lag Calendar - Partial Indexing - 17th Nov 17
Mystery of Inflation and Gold - 17th Nov 17
Stock Market Ready To Pull The Rug Out From Under You! - 17th Nov 17
Crude Oil – Gold Link in November 2017 - 17th Nov 17
Play Free Online Games and Save Money Free Virtual Online Games - 17th Nov 17
Stock Market Crash Omens & Predictions: Another Day Another Lie - 16th Nov 17
Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe - 16th Nov 17
Announcing Free Trader's Workshop: Battle-Tested Tools to Boost Your Trading Confidence - 16th Nov 17
Instructions to Stop a Dispossession Home Sale and How to Purchase Astutely at Abandonment Home - 16th Nov 17
Trump’s Asia Tour: From Old Conflicts to New Prospects - 16th Nov 17
Bonds And Stocks Will Crash Together In The Next Crisis (Meanwhile, Bond Yields Are Going Up) - 16th Nov 17
A Generational Reset That Will Redistribute Wealth to the Bottom 60% Is Near - 16th Nov 17
Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - 16th Nov 17
Gold’s Long-term Analogies - 16th Nov 17
Does Stripping Streets of ALL of their Trees Impact House Prices (Sheffield Example)? - 15th Nov 17
The Trump Administration’s IP Battle Against China - 15th Nov 17
5 Ways Bitcoin can Improve its Odds of Becoming the Future of Money - 15th Nov 17
These Headlines Say Gold is Building a Base for Something Big - 15th Nov 17
Protect Your Savings With Gold: ECB Propose End To Deposit Protection - 14th Nov 17
Gold on the Ledge, Trend Forecast - 14th Nov 17
The Unbearable Slowness Of Fourth Turnings - 14th Nov 17
Silver Sign’s Confirmation & More - 14th Nov 17
Could This Be The End for Tesla? - 14th Nov 17
Harry Dent’s Fourth Cycle: More Evidence of Stock Market Downturn - 14th Nov 17
Why Having Good Credit Is Important If You Want to Invest - 14th Nov 17
The Bitcoin Bubble Explained in 4 Charts - 13th Nov 17
How the US Has Secretly Subsidized China to Produce Eco-Unfriendly Solar Panels - 13th Nov 17
The Increasingly Unstable Middle East Must Be On Every Investor’s Radar - 13th Nov 17
Stock Market Critical Supports are Being Challenged - 13th Nov 17
The One Chart All Investors Should See Before 2018 - 13th Nov 17
Short-Term Stock Market Uncertainty Following Recent Rally, Will Stocks Continue Higher? - 13th Nov 17
Is Hillary Just the “Fall Guy” for the Intel Agencies and their Moneybags Bosses? - 12th Nov 17
Stock Market Correction Phase - 12th Nov 17
Finally, The Fall Of The House Of Saud - 12th Nov 17
Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - 11th Nov 17
E-franc, E-krona... E-volution? - 11th Nov 17
Gold Investment Stalled - 11th Nov 17
Smart Ways to Get Loans Online - 11th Nov 17
What Can Pot Teach Us About Economics and Government? - 10th Nov 17
Can Stocks and Bonds go Down at the Same Time? - 10th Nov 17
Gold Market 2017 Will We See a Replay of 2015 and 2016? - 10th Nov 17
Oil markets turn bullish with shift to backwardation - 10th Nov 17
The Strange Behavior of Gold Investors from Monday to Thursday - 10th Nov 17
Where to Start Your Cryptocurrency Company - 10th Nov 17

Market Oracle FREE Newsletter

Forex Trading Free Week

Big Day for the Stock Market

Stock-Markets / Stock Market 2017 Apr 18, 2017 - 11:38 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a very strong session today. The day started out with a pop to the upside, a quick pullback retest, and then they were off to test resistance. For the next several hours the Nasdaq 100 went sideways, and consolidated in coil patterns. The S&P 500 actually moved up in a rising channel, and at the end of the day exploded to the upside, tested secondary resistance, and close right there. These are very key levels near 5400 Nasdaq 100, and the 2349-50 area for the S&P 500, and that’s where they closed.


We’ll see tomorrow whether this was a significant day or not. It sure looks like it. If there’s a follow-through, there’s no question about it. They did complete a 5-wave decline in the S&P 500 over the last several sessions, and that could have been the reason for the pop.

Net on the day, the Dow was up 183.67 at 20,636.92, just a few points off the high. The S&P 500 was up 20.06 at 2349.01, pennies off the high. The Nasdaq 100 was up 45.61 at 5399.20 right on the high.

Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on the Nasdaq. Up/down volume was 3 1/2 to 1 positive on New York, total volume of 2.7 billion shares traded. The Nasdaq traded 1.3 billion shares and had an almost 4 to 1 positive volume ratio.

TheTechTrader.com board was mostly green today. Priceline.com (PCLN) was up 31.84 to 1770.61, Alphabet Inc. (GOOG) up 13.61, 837.17, Apple Inc. (AAPL) up 75 cents to 141.80, Amazon.com, Inc. (AMZN) 17.32 to 901.99, and Netflix, Inc. (NFLX) 4.33 to 147.25. They just announced earnings on NFLX and it’s running after hours.

Baidu, Inc. (BIDU) gained 70 cents to 173.31, Facebook, Inc. (FB) climbed 2.03 to 141.42, but First Solar, Inc. (FSLR) closed nearly flat, down 8 cents to 27.34.

Tesla Motors, Inc. (TSLA) lost 2.56 to 301.44.

In addition, other stocks to the upside included Shopify Inc. (SHOP), up 1.07 to 71.70, NVIDIA Corporation (NVDA) up 3.74 to 99.23, bluebird bio, Inc. (BLUE) 2.05 to 88.25, and Clovis Oncology Inc. (CLVS) 1.21 to 57.38.

Checking TheTechTrader.com percent-gain leaderboard, Adesto Technologies Corporation (IOTS) bounced 80 cents, or 18%, to 5.25. Superconductor Technologies Inc. (SCON) popped 43 cents, or 26%, to 2.10, on 3.9 million shares traded.

Cleveland BioLabs, Inc. (CBLI), leading the way, exploded 3.19, or 205%, to 4.75, on 38.6 million shares traded, or 91,500% move volume than average, on positive drug news today.

Puma Biotechnology, Inc. (PBYI) ran 3.95, or 11%, to 39.60, on 1.1 million shares traded. Pulse Biosciences, Inc. (PLSE) thrust 2.34, or 10%, to 25.60.

Among other gainers, Yandex N.V. (YNDX) was up 1.52, or 7%, to 24.27, and Foundation Medicine, Inc. (FMI) gained 2.00 to 34.30.

Stepping back and reviewing the hourly chart patterns, the indices had a very strong morning, a quiet midday consolidation, and a strong afternoon.

Good Trading!

Harry

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

(c) 2017 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