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 Very Mixed, Volatile Day

Stock-Markets / Stock Market 2017 Mar 08, 2017 - 11:56 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had a sloppy down day today. The day started out with a move down, and then a strong rally on the Nasdaq 100 took the S&P 500 up as well when Apple Inc. (AAPL) rallied, but they failed at triple-quadruple top near 5374 on the Nasdaq 100 as the S&P 500 got nowhere near their recent high, and as a result of that negative divergences backed off. They retested the lows, bounced around, formed wedges, and then in the afternoon, they broke those wedges to the downside, and made slightly lower lows before a late rally brought them back.


Net on the day, the Dow was down 29.58 at 20,924.76. The S&P 500 was down 6.93 at 2368.38. The Nasdaq 100 was down 9.03 at 5351.28.

Advance-declines were 2 1/2 to 1 negative on the New York Stock Exchange, and 2 to 1 negative on the Nasdaq. Up/down volume was more than 3 to 1 negative on New York, total volume of 3.4 billion shares traded. The Nasdaq traded 1.7 billion shares and had a 4 to 3 negative volume ratio.

TheTechTrader.com board was narrowly mixed. Priceline.com (PCLN) was up 6.25 to 1736.46, Alphabet Inc. (GOOG) up 4.13 to 831.91, Apple Inc. (AAPL) up 18 cents to 139.52, but Amazon.com, Inc. (AMZN) was down 59 cents and Netflix, Inc. (NFLX) was down 63 cents to 141.31.

Baidu, Inc. (BIDU) gained 27 cents to 173.57, Facebook, Inc. (FB) fell 25 cents to 137.17, and First Solar, Inc. (FSLR) dropped 73 cents to 32.60.

Tesla Motors, Inc. (TSLA) lost 2.64 to 248.57.

Other stocks point-plus gainers to the upside included Aerie Pharmaceuticals, Inc. (AERI), up 1.25 to 49.95, reaching over 50 for the first time, Foundation Medicine, Inc. (FMI) up 2.90 to 34.20, and NVIDIA Corporation (NVDA) 1.07 to 98.74.

On the downside, Supernus Pharmaceuticals, Inc. (SUPN) got smacked 3.35 to 26.40 on nearly 3 million shares traded on a court decision. United States Steel Corp. (X) was down 1.34 to 36.14, and XPO Logistics, Inc. (XPO) down 1.14 to 50.67.

Biotech’s had a tough day as Trump and Price talked about controlling drug prices. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) dropped 2.55 to 48.84, Clovis Oncology Inc (CLVS) lost 1.14 to 60.06, bluebird bio, Inc. (BLUE) gave back 1.20 to 82.30.

Checking TheTechTrader.com percent-gain leaderboard, MoSys, Inc. (MOSY) bounced 59 cents, or 27%, to 2.74, on 3.4 million shares traded. MeetMe, Inc. (MEET), on earnings and an acquisition, ran 82 cents, or 16%, to 5.98, on 16.2 million shares traded.

Aurinia Pharmaceuticals Inc. (AUPH) climbed 1.74, or 32 1/2%, to 7.10, on 49 million shares traded.

Momo Inc. (MOMO) popped 3.39, or 13%, to 30.00, on 22 million shares traded. LGI Homes, Inc. (LGIH) exploded 3.70, or 13%, to 32.71, on 3 million shares traded. Applied Optoelectronics, Inc. (AAOI) closed up 3.08, or 6%, to 54.54, on 1.9 million shares traded. Puma Biotechnology, Inc. (PBYI) climbed 1.95, or 6%, to 35.60, on 1.5 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were down early, ran sharply back up midmorning, and went back down by midday, only to bounce on wedges, and then rolled back down sharply about fifteen minutes before the close, and snapped back into the close.

It was a very mixed day that tested support, tested trendlines, and tested moving averages. It’s a critical time for the indices.

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