Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Covid, Debt and Precious Metals - 3rd Jun 20
Gold-Silver Ratio And Correlation - 3rd Jun 20
The Corona Riots Begin, US Covid-19 Catastrophe Trend Analysis - 3rd Jun 20 -
Stock Market Short-term Top? - 3rd Jun 20
Deflation: Why the "Japanification" of the U.S. Looms Large - 3rd Jun 20
US Stock Market Sets Up Technical Patterns – Pay Attention - 3rd Jun 20
UK Corona Catastrophe Trend Analysis - 2nd Jun 20
US Real Estate Stats Show Big Wave Of Refinancing Is Coming - 2nd Jun 20
Let’s Make Sure This Crisis Doesn’t Go to Waste - 2nd Jun 20
Silver and Gold: Balancing More Than 100 Years Of Debt Abuse - 2nd Jun 20
The importance of effective website design in a business marketing strategy - 2nd Jun 20
AI Mega-trend Tech Stocks Buying Levels Q2 2020 - 1st Jun 20
M2 Velocity Collapses – Could A Bottom In Capital Velocity Be Setting Up? - 1st Jun 20
The Inflation–Deflation Conundrum - 1st Jun 20
AMD 3900XT, 3800XT, 3600XT Refresh Means Zen 3 4000 AMD CPU's Delayed for 5nm Until 2021? - 1st Jun 20
Why Multi-Asset Brokers Like are the Future of Trading - 1st Jun 20
Will Fed‘s Cap On Interest Rates Trigger Gold’s Rally? - 30th May
Is Stock Market Setting Up for a Blow-Off Top? - 29th May 20
Strong Signs In The Mobile Gaming Market - 29th May 20
Last Clap for NHS and Carers, Sheffield UK - 29th May 20
The AI Mega-trend Stocks Investing - When to Sell? - 28th May 20
Trump vs. Biden: What’s at Stake for Precious Metals Investors? - 28th May 20
Stocks: What to Make of the Day-Trading Frenzy - 28th May 20
Why You’ll Never Get Another Stimulus Check - 28th May 20
Implications for Gold – 2007-9 Great Recession vs. 2020 Coronavirus Crisis - 28th May 20
Ray Dalio Suggests USA Is Entering A Period Of Economic Decline And New World Order - 28th May 20
Europe’s Coronavirus Pandemic Dilemma - 28th May 20
I Can't Pay My Payday Loans What Will Happen - 28th May 20
Predictive Modeling Suggests US Stock Markets 12% Over Valued - 27th May 20
Why Stocks Bear Market Rallies Are So Tricky - 27th May 20
Precious Metals Hit Resistance - 27th May 20
Crude Oil Cuts Get Another Saudi Boost as Oil Demand Begins to Show Signs of Life - 27th May 20
Where the Markets are heading after COVID-19? - 27th May 20
Silver Springboards Higher – What’s Next? - 26th May 20
Stock Market Key Resistance Breakout Is Where the Rubber Meets the Road - 26th May 20
5 Ways To Amp Up Your CFD Trading Today - 26th May 20
The Anatomy of a Gold Stock Bull Market - 26th May 20
Stock Market Critical Price Level Could Soon Prompt A Big Move - 25th May 20
Will Powell Decouple Gold from the Stock Market? - 25th May 20
How Muslims Celebrated EID in Lockdown Britain 2020 - UK - 25th May 20
Stock Market Topping Behavior - 24th May 20
Fed Action Accelerates Boom-Bust Cycle; Not A Virus Crisis - 23rd May 20
Gold Silver Miners and Stocks (after a quick drop) Ready to Explode - 23rd May 20
3 Ways to Prepare Financially for Retirement - 23rd May 20
4 Essential Car Trade-In Tips To Get The Best Value - 23rd May 20
Budgie Heaven at Bird Land - 23rd May 20

Market Oracle FREE Newsletter


Ugly Day for Wall Street

Stock-Markets / Stock Markets 2016 Apr 29, 2016 - 11:14 AM GMT

By: Harry_Boxer


The stock market indices had a very rough day today. The day started out with a nice rally in the morning, they rolled over just after the lunch hour, and got hammered hard into the close, finishing as one of the worst days of the year.

Net on the day, the Dow was down 210.79 at 17,830.76, more than 200 points off the high. The S&P 500 was 19.34 at 2075.81, 24 points off its high. The Nasdaq 100 was down 52.64 at 4363.99, 93 points off the high.

Advance-declines were nearly 2 to 1 negative on the New York Stock Exchange, and 2 to 1 negative on the Nasdaq. Up/down volume was 2 to 1 negative on New York, total volume of 4.3 billion shares traded. The Nasdaq traded 2.2 billion shares and had a 2 to 1 negative volume ratio. board was mostly red. The Nasdaq Generals pressured the market all day, although they rallied at one point in the day. Priceline Inc. (PCLN) was down 36.15 to 1317.59, Google Inc. (GOOG) down 14.82 to 691.02, Apple Inc. (AAPL) down 2.99 to 94.82, Inc. (AMZN), 24 points off its high, down 4.57 to 602.00, but jumped 70 points in after hours on earnings, and Netflix, Inc. (NFLX) 76 cents to 90.28.

Baidu, Inc. (BIDU) lost 1.93 to 186.02, but First Solar, Inc. (FSLR), after yesterday’s earnings, ran 5.01 to 57.02. Microsoft Corporation (MSFT) dropped 1.04 to 49.90.

Facebook, Inc. (FB) soared 7.84 to 116.73, or nearly 8%, on 85 million shares on earnings today.

Tesla Motors, Inc. (TSLA) lost 3.76 to 247.71.

Other losers of note included Cynosure, Inc. (CYNO), a new swing trade of ours, down 2.06 to 48.73, Editas Medicine Inc. (EDIT) down 2.23 to 34.14, Universal Display Corp. (OLED) 1.83 to 58.18, SolarEdge Technologies, Inc. (SEDG), in a weak solar group, 1.81 to 26.67, Stratasys Ltd. (SSYS) 1.40 to 25.73, Targa Resources Corp. (TRGP), in a weak oil group, 1.75 to 38.71.

Checking the percent-gain leaderboard, Dehaier Medical Systems Limited (DHRM) ran straight up to 2.88, pulled back, and closed up 56 cents to 1.89, or 42%, on 2.8 million shares.

Cliffs Natural Resources Inc. (CLF) climbed 1.08 to 5.39, or 25%, on 47 million shares. Blucora, Inc. (BCOR) gained 1.47 to 7.60, or 24%, on 2.3 million shares. Mitek Systems, Inc. (MITK) had a big day today, up 1.06 to 7.31, or 17%, on 2.8 million shares.

Sarepta Therapeutics, Inc. (SRPT) advanced 2.25 to 13.80, or 20%, on 25 million shares. FTI Consulting, Inc. (FCN) popped 5.32 to 39.96, or 15%, on 1.8 million shares. OncoMed Pharmaceuticals, Inc. (OMED) peaked at 15.48 before noon, pulled back and closed up 1.83 to 13.57, or 15%. CommScope Holding Company, Inc. (COMM) gained 3.81 to 30.54, or 14%, on 5 million shares.

Many other stocks did well, including gold ETF’s. The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) stair-stepped its way up 17.80 to 152.10. The Direxion Daily Gold Miners Bull 3X ETF (NUGT) rose 11.69 to 100.00, or 13%, on 8.3 million shares.

The ultra-shorts also had a good day. The ProShares Ultra VIX Short-Term Futures (UVXY) had a huge thrust up 1.69 to 15.97, or 12%, on 48 million shares and reached as high as 16.19.

Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, down sharply after the lunch hour, and even though they had a late, 5-minute bounce, they closed pretty much near the session lows.

It was a nasty day, however, looking at the Nasdaq 100 chart, we finished today near the lows of the fifth wave of this decline, so we may see something else, especially in lieu of the fact that the S&P 500 is still right about support.

Let’s see what happens tomorrow.

Good Trading!


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) 2016 AdviceTrade, Inc. All rights reserved. Distributed only by written permission of AdviceTrade and The Technical Trader at . 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

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 - 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

6 Critical Money Making Rules