Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Investing in the METAVERSE Stocks Universe - 8th Dec 21
Stock Market Sentiment Speaks: I Expect 15-20% Returns For 2022 - 8th Dec 21
US Dollar Still Has the Green Light - 8th Dec 21
Stock Market Topping Process Roadmap - 8th Dec 21
The Lithium Breakthrough That Could Transform The Mining Industry - 8th Dec 21
VR and Gaming Becomes the Metaverse - 7th Dec 21
How to Read Your Smart Meter - Economy 7, Day and Night Rate Readings SMETS2 EDF - 7th Dec 21
For Profit or for Loss: 4 Tips for Selling ASX Shares - 7th Dec 21
INTEL Bargain Teck Stocks Trading at 15.5% Discount Sale - 7th Dec 21
US Bonds Yield Curve is not currently an inflationist’s friend - 7th Dec 21
Omicron COVID Variant-Possible Strong Stock Market INDU & TRAN Rally - 7th Dec 21
The New Tech That Could Take Tesla To $2 Trillion - 7th Dec 21
S&P 500 – Is a 5% Correction Enough? - 6th Dec 21
Global Stock Markets It’s Do-Or-Die Time - 6th Dec 21
Hawks Triumph, Doves Lose, Gold Bulls Cry! - 6th Dec 21
How Stock Investors Can Cash in on President Biden’s new Climate Plan - 6th Dec 21
The Lithium Tech That Could Send The EV Boom Into Overdrive - 6th Dec 21
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

FOMC Raises US Interest Rates, Market Reacts in Mood Swings

Interest-Rates / US Interest Rates Dec 15, 2016 - 06:03 AM GMT

By: Harry_Boxer

Interest-Rates

The stock market indices had a topsy-turvy day with the FOMC meeting taking place as they raised interest rates. The day started out with a move to the upside, they met resistance, backed off to test support, held, and although the S&P 500 made lower lows, the Nasdaq 100 did not. They then ran up into the FOMC. At that point, they made a little bit of a pop, and then went down in a steep slide, a big rally ensued, they went down in another steep slide, held support on the Nasdaq 100, but not on the S&P 500. A very sharp rally took them back almost near the rally highs, and then in the last 20-25 minutes they took a plunge into the close, and finished very ugly on the day.


Net on the day, the Dow was down 118.68 at 19,792.53. The S&P 500 was down 18.44 at 2253.28. The Nasdaq 100 was down 14.62 at 4921.22.

Advance-declines were 4 to 1 negative on the New York Stock Exchange, and 2 to 1 negative on the Nasdaq. Up/down volume was 5 to 1 positive on New York, total volume of 4.3 billion shares traded. The Nasdaq traded 1.9 billion shares and had a 2 1/2 to 1 negative volume ratio.

TheTechTrader.com board was mostly red. Leading the way to the downside, Priceline.com (PCLN) was down 11.66 to 1528.45, Amazon.com, Inc. (AMZN) down 5.38 to 768.96, and Netflix, Inc. (NFLX) down 34 cents to 123.44, but Alphabet Inc. (GOOG) eked out 97 cents to 797.07, and Apple Inc. (AAPL) 7 cents to 115.19.

Baidu, Inc. (BIDU) dropped 1.63 to 169.83, Facebook, Inc. (FB) gave back 10 cents to 120.21, and First Solar, Inc. (FSLR) closed down 1.08 to 32.54.

Tesla Motors, Inc. (TSLA), however, gained 54 cents to 198.69.

Stocks down a point, or more, included Argan, Inc. (AGX), down 1.50 to 71.40, and CoLucid Pharmaceuticals, Inc. (CLCD) down 1.45 to 35.05.

The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) got crushed 1.22 to 5.39.

On the upside, the Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) exploded 6.89 to 43.72 well as Direxion Daily Gold Miners Bear 3X ETF (DUST) 8.21 to 60.26.

Checking TheTechTrader.com percent-gain leaderboard, Brainstorm Cell Therapeutics Inc. (BCLI) moved up 46 cents, or 21%, to 2.62, on 4.9 million shares traded. Skyline Medical Inc. (SKLN) popped 49 cents, or 16%, to 3.47, on 3.7 million shares traded. Majesco Entertainment Company (COOL) snapped back 45 cents, or 12%, to 4.33. Vuzix Corporation (VUZI), on certification of shipping products, gained 40 cents, or 6%, to 7.45.

Vericel Corporation (VCEL) gained 1.50, or 58%, to 4.10, on 54 million shares traded on positive drug news.

NVIDIA Corporation (NVDA) climbed 5.28, or 6%, to 96.45, on 24 million shares traded. Nordson Industries (NDSN) made its way up 6.11, or 6%, to 110.39

The VelocityShares 3x Inverse Crude (DWT) ran 2.21, or 10%, to 24.46, on 2 million shares traded, the ProShares UltraShort Bloomberg Crude Oil (SCO) was up 3.98, or 6%, to 67.78, on 2.2 million shares traded. The VelocityShares 3x Long Natural Gas ETN (UGAZ) bounced 3.67, or 9%, to 41.81, on 4 million shares traded.

The Direxion Daily Russia Bear 3X ETF (RUSS) climbed 85 cents, or 14%, to 6.95, on 1.7 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were extremely volatile, and wild swinging in the afternoon. There’s no semblance as to where the market may be going from here. Support is at 4910 Nasdaq 100, and 2250 S&P 500.

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

© 2005-2019 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