Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Indices Give Back Early Gains to Close Negative

Stock-Markets / Stock Markets 2015 Apr 08, 2015 - 09:46 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market had a very strong start to the day, and a 3-wave move up that took the indices from 4350 Nasdaq 100 to nearly 4380 and the S&P 500 from 2081 to 2090. They pulled back midday to consolidate, but at the end of the day, without breaking out the formidable declining topsline, it became quite difficult to get through. They rolled over hard in the last hour, taking the Nasdaq from 4372 to 4344, and the S&P 500 from 2088 to 2076. They closed negative, giving back the entire gains of the day. The formidable overhead resistance at the 4380-84 zone Nasdaq 100 and near the 2090 area on the S&P 500 become too much for the stocks to overcome.


Net on the day, the Dow was down 5.43 at 17,875.42, 108 points off the high. The S&P 500 was down 4.29 at 2076.33, 13 points off its high. The Nasdaq 100 was down 6.90 at 4344.80, 35 points off its high.

Advance-declines were 17 to 13 1/2 negative on the New York Stock Exchange, and 14 to 12 1/2 negative on Nasdaq. Up/down volume was 16 to 13 negative on New York, with total volume of 3 billion shares. Nasdaq traded a little over 1.5 billion shares, and had a 79 to 73 negative volume ratio.

TheTechTrader.com board was very mixed. The only large-cap stocks to the upside were Google Inc. (GOOG), up just 26 cents to 537.02, and Netflix, Inc. (NFLX), up 1.15 to 423.46.

Cyber-Ark Software Ltd. (CYBR) was the leader today, up 4.47 to 59.45. Twitter, Inc. (TWTR), on talks about takeover rumor, was up 2.03 to 52.87. Splunk, Inc. (SPLK) was up 1.91 to 62.09, NewLink Genetics Corporation (NLNK) 1.09 to 53.94, and Neurocrine Biosciences Inc. (NBIX) 1.10 to 40.20.

On the downside, Priceline.com Incorporated (PCLN) closed nearly flat, down just 3 cents. Apple Inc. (AAPL) closed near the lows for the day, down 1.34 to 126.01, and Amazon.com Inc. (AMZN) gave back 2.63 to 374.41.

Most of the stocks that we follow were very narrowly mixed at the end of the day.

Checking the TheTechTrader.com percent-gain leaderboard, Merge Healthcare Incorporated (MRGE) gained 66 cents to 5.23, or 14.4%, on 1.8 million shares. BIND Therapeutics, Inc. (BIND) closed up 65 cents to 6.32, or 11%, on 5.4 million shares. RADA Electronic Industries Ltd. (RADA) thrust 26 cents to 2.69, or 11%, on 1.3 million shares.

PostRock Energy Corporation (PSTR), on an insider buy, jumped 2.53 to 4.35, or 139%, on 2.3 million shares, 4700% more volume than average.

500.com Limited (WBAI) ran 2.18 to 14.47, or 17 3/4%, on 10 million shares. Hooker Furniture Corp. (HOFT), on earnings, advanced 2.69 to 21.40, or 14%. Cheetah Mobile Inc. (CMCM) climbed 2.66 to 23.95, or 12%, on 3.9 million shares. Axalta Coating Systems Ltd. (AXTA) popped 2.78 to 31.11, or 10%, on 8.7 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, flat midday, and then they rolled over hard in the last hour to close negative on the day. It was not a good day for Wall Street.

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

© 2005-2022 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