Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Get High on Donald Trump Pump - 10th Feb 25
Bitcoin Break Out, MSTR Rocket to the Moon! AI Tech Stocks Earnings Season - 10th Feb 25
Liquidity and Inflation - 10th Feb 25
Gold Stocks Valuation Anomaly - 10th Feb 25
Stocks, Bitcoin and Crypto's Under President Donald Pump - 8th Feb 25
Transition to a New Global Monetary System - 8th Feb 25
Betting On Outliers: Yuri Milner and the Art of the Power Law - 8th Feb 25
President Black Swan Slithers into the Year of the Snake, Chaos Rules! - 2nd Feb 25
Trump's Squid Game America, a Year of Black Swans and Bull Market Pumps - 24th Jan 25
Japan Interest Rate Hike - Black Swan Panic Event Incoming? - 23rd Jan 25
It's Five Nights at Freddy's Again! - 12th Jan 25
Squid Game Stock Market 2025 - 5th Jan 25
Stock Market Bubble Drivers, Crypto Exit Strategy During Musk Presidency - 27th Dec 24
Gold Stocks’ Remain Exceptionally Weak Even as Stocks Rise - 27th Dec 24
Gold’s Remarkable Year - 27th Dec 24
Stock Market Rip the Face Off the Bears Rally! - 22nd Dec 24
STOP LOSSES - 22nd Dec 24
Fed Tests Gold Price Upleg - 22nd Dec 24
Stock Market Sentiment Speaks: Why Do We Rely On News - 22nd Dec 24
Never Buy an IPO - 22nd Dec 24
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Down Day with Poor Technicals

Stock-Markets / Stock Market 2017 Jan 20, 2017 - 06:37 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a tough session after opening with a gap up, and a strong surge on the Nasdaq 100, but the S&P 500 was barely able to move. They plunged sharply in the morning, bounced back midday, only to roll over again, making lower lows. At the end of the day, they did have a 5-wave comeback that pared back the losses, but still it was a down day.

Net on the day, the Dow was down 72.32 at 19,732.40. The S&P 500 was down 8.20 at 2263.69. The Nasdaq 100 was down 4.68 at 5051.17.


Advance-declines were 22 to 7 1/2 negative on the New York Stock Exchange, and 2 1/2 to 1 negative the Nasdaq. Up/down volume was 22 to 9 negative on New York, total volume of 3 billion shares traded. The Nasdaq traded 1 3/4 billion shares and had a 11 to 6 negative volume ratio.

TheTechTrader.com board was mixed. Priceline.com (PCLN) was down 2.84 to 1539.02, Alphabet Inc. (GOOG) down 3.90 to 802.17, Apple Inc. (AAPL) down 21 cents to 119.78, but Amazon.com, Inc. (AMZN) was up 1.56 to 809.04 and Netflix, Inc. (NFLX) up 5.15 to 138.41.

Baidu, Inc. (BIDU) dropped 45 cents to 176.09, Facebook, Inc. (FB) fell 37 cents to 127.55, and First Solar, Inc. (FSLR) popped just one cents to 34.42.

Tesla Motors, Inc. (TSLA) jumped 5.40 to 243.76.

Other stocks to the upside included Check Point Software Technologies Ltd. (CHKP), a swing trade of ours, up 6.73 to 96.34 after earnings, Achaogen, Inc. (AKAO) up 1.06 to 18.84, Acacia Communications, Inc. (ACIA) up 3.28 to 63.29, and NVIDIA Corporation (NVDA) 2.21 to 105.16.

On the downside, U.S. Concrete, Inc. (USCR) dropped 1.30 to 60.55, United States Steel Corp. (X) down1.72 to 33.21, XPO Logistics, Inc. (XPO) 1.05 to 43.22, and Aerie Pharmaceuticals, Inc. (AERI) 1.20 to 41.10.

Checking TheTechTrader.com percent-gain leaderboard, Catabasis Pharmaceuticals, Inc. (CATB) popped 82 cents, or 20%, to 4.97, on 4 million shares traded.

ViewRay, Inc. (VRAY) ran 1.27, or 40%, to 4.41. Globus Maritime Limited (GLBS) gained 1.19, or 19%, to 7.36, on 5.2 million shares traded. Swing trade Oclaro, Inc. (OCLR) gained 1.35, or 17%, to 9.48, on 26 million shares traded.

CSX Corporation (CSX) exploded 8.63, or 23%, to 45.51, on 99 million shares traded. Gravity Co., Ltd (GRVY) bounced 3.93, or 23%, to 20.96.

Among other gainers, Century Aluminum Co. (CENX) was up 1.11 to 13.27, and Teladoc, Inc. (TDOC) advanced 1.40 to 18.40.

Stepping back and reviewing the hourly chart patterns, the indices were up early, plunged in a 3-wave decline, only to snap back in the last hour, but still it was a negative day on Wall Street.

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

© 2005-2022 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