Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
UK Energy Firms Scamming Customers Out of Their Best Fixed Rate Gas Tariffs - 23rd Sep 21
Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Should School Children be Jabbed with Pfizer Covid-19 Vaccine To Foster Herd Immunity? - UK - 23rd Sep 21
HOW TO SAVE MONEY ON CAR INSURANCE - 23rd Sep 21
Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
Trading Crude Oil ETFs in Foreign Currencies: What to Focus On - 22nd Sep 21
URGENT - Crypto-trader event - 'Bitcoin... back to $65,000?' - 22nd Sep 21
Stock Market Time to Buy the Dip? - 22nd Sep 21
US Dollar Bears Are Fresh Out of Honey Pots - 22nd Sep 21
MetaTrader 5 Features Every Trader Should Know - 22nd Sep 21
Evergrande China's Lehman's Moment, Tip of the Ice Berg in Financial Crisis 2.0 - 21st Sep 21
The Fed Is Playing The Biggest Game Of Chicken In History - 21st Sep 21
Focus on Stock Market Short-term Cycle - 21st Sep 21
Lands End Cornwall In VR360 - UK Holidays, Staycations - 21st Sep 21
Stock Market FOMO Hits September CRASH Brick Wall - Dow Trend Forecast 2021 Review - 20th Sep 21
Two Huge, Overlooked Drains on Global Silver Supplies - 20th Sep 21
Gold gets hammered but Copper fails to seize the moment - 20th Sep 21
New arms race and nuclear risks could spell End to the Asian Century - 20th Sep 21
Stock Market FOMO Hits September Brick Wall - Dow Trend Forecast 2021 Review - 19th Sep 21
Dow Forecasting Neural Nets, Crossing the Rubicon With Three High Risk Chinese Tech Stocks - 18th Sep 21
If Post-1971 Monetary System Is Bad, Why Isn’t Gold Higher? - 18th Sep 21
Stock Market Shaking Off the Taper Blues - 18th Sep 21
So... This Happened! One Crypto Goes From "Little-Known" -to- "Top 10" in 6 Weeks - 18th Sep 21
Why a Financial Markets "Panic" May Be Just Around the Corner - 18th Sep 21
An Update on the End of College… and a New Way to Profit - 16th Sep 21
What Kind of Support and Services Can Your Accountant Provide? Your Main Questions Answered - 16th Sep 21
Consistent performance makes waste a good place to buy stocks - 16th Sep 21
Dow Stock Market Trend Forecasting Neural Nets Pattern Recognition - 15th Sep 21
Eurozone Impact on Gold: The ECB and the Phantom Taper - 15th Sep 21
Fed To Taper into Weakening Economy - 15th Sep 21
Gold Miners: Last of the Summer Wine - 15th Sep 21
How does product development affect a company’s market value? - 15th Sep 21
Types of Investment Property to Become Familiar with - 15th Sep 21
Is This the "Kiss of Death" for the Stocks Bull Market? - 14th Sep 21
Where Are the Stock Market Fireworks? - 14th Sep 21
Play-To-Earn Cryptocurrency Games Gain More and Is Set to Expand - 14th Sep 21
The CashFX TAP Platform - Catering to Bull Investors and Bear Investors Alike - 14th Sep 21
Why every serious investor should be focused on blockchain technology - 13th Sep 21
SPX Base Projection Reached – End of the Line? - 13th Sep 21
There are diverse ways to finance the purchase of a car - 13th Sep 21
6 Tips For Wise Investment - 13th Sep 21 - Mark_Adan

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Indices End Mixed to Close Out Week

Stock-Markets / US Stock Markets Jul 11, 2009 - 12:46 PM GMT

By: Harry_Boxer

Stock-Markets The stock market indices had a mixed performance at the close today, but not without some volatility, especially in the morning.


The indices opened down, immediately reversed after holding support and rallied sharply to new snapback highs on the Nasdaq 100, but the S&P 500 failed to confirm that and couldn't even get through price and moving average resistance. A sharp setback followed, taking the NDX and SPX to new pullback lows off of yesterday's highs and the early highs on Nasdaq, but held secondary support. When that occurred, a snapback rally occurred mid-day, followed by a pullback that tested support successfully. The indices then backed and filled for about an hour and a half, before a late rally try got right up to earlier rally highs, but failed to get a late follow through and backed off.

Net on the day the Dow was down 36.65 to 8146.52 and the S&P 500 down 3.55 at 879.13, but the Nasdaq 100 was up 4.86 at 1490.84. The Philadelphia Semiconductor Index (SOXX) was up 1.09 to 259.04.

The technicals also were mixed. Advance-declines were negative by about 90 issues on New York and positive by 170 issues on Nasdaq. Up/down volume was more than 2 to 1 negative on New York on total volume of a very light 900 million. Nasdaq traded just under 1 2/3 billion with a 3 to 2 positive volume ratio.
So it was a slow summer Friday session, as the summer doldrums appear to be setting in.

TheTechTrader.com board stocks moved marginally today, but there were some outstanding gainers and losers. Apple (AAPL) gained 2.16 to 138.52, and the Direxion Financial Bear 3x Shares (FAZ) gained 2.10 to 56.45, a post reverse split price.

Those were the only point-plus gainers on our board.

On the downside, the Direxion Financial Bull 3x Shares (FAS) lost 1.44 to 37.46, and Goldman Sachs (GS) 1.34 to 141.87. Among other financials, JP Morgan (JPM) was down 1.28 to 32.34. Wells Fargo (WFC) dropped 41 cents to 22.87.

The ag/chem stocks got hammered by lower international pricing of potash. Potash (POT) fell 8.44 to 85.07, more than 10 points off its earlier high. Mosaic (MOS) lost 1.63 to 41.13. Low-priced Cornerstone Therapeutics (CRTX) was down 1.31 to 7.38.

Those were the only point-plus losers on our board.

Stepping back and reviewing the hourly chart patterns, the indices were up early in the morning, down late in the morning, and then back up in the afternoon before a couple hours of backing and filling resulted in a rally try right at the end that failed. As a result, the indices closed mixed on the session, a very unsatisfying way to close the week.

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) 2009 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