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
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Positive Session with Good Technicals

Stock-Markets / Stock Markets 2016 Oct 06, 2016 - 10:22 AM GMT

By: Harry_Boxer


The stock market indices had another wild session, first gapping up and running to retest the highs, unable to get there, and by midday hit their peak on the Nasdaq 100. The S&P 500 did make a higher high in the afternoon, unconfirmed by the Nasdaq 100. That caused a negative divergence, which sold them off in the last hour.

Net on the day, the Dow was up 112.58 at 18,281.03, 34 points off its high. The S&P 500 was up 9.24 at 2159.73, 4 points off its high. The Nasdaq 100 was up 18.28 at 4877.75, 14 points off its high.

Advance-declines were 3 to 2 positive on the New York Stock Exchange, and 2 to 1 positive on the Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York, total volume of 3.8 billion shares traded. The Nasdaq traded 2 billion shares and had a 11 to 6 positive volume ratio. board was mostly higher. (PCLN) was up 8.56 to 1497.58, Google Inc. (GOOG) up just 4 cents to 776.47, Apple Inc. (AAPL) also up just a few pennies, 5 cents to 113.05, Inc. (AMZN), reaching a new high, up 10.33 to 844.36, and Netflix, Inc. (NFLX) 3.94 to 106.28.

Baidu, Inc. (BIDU) gained 3 cents to 184.11, Facebook, Inc. (FB) popped 28 cents to 128.46 and First Solar, Inc. (FSLR), in a very strong solar sector today, jumped 1.53 to 39.74.

Tesla Motors, Inc. (TSLA) lost 2.95 to 208.46.

Other gainers of note included Acacia Communications, Inc. (ACIA), on an upgraded guidance, exploded 11.54, or 11%, to 113.54. That was a nice gain there. Puma Biotechnology, Inc. (PBYI) ran 3.09 to 65.63, Clovis Oncology Inc (CLVS), on takeover rumors, up 2.52 to 37.28, and Cara Therapeutics Inc. (CARA), had a very solid day, 1.03 to 9.68.

Biotech’s were generally firm. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 2.24 to 49.88.

On the downside, NOVAN, INC. (NOVN) gave back 1.24 to 18.90, and NUTANIX, INC. (NTNX) dropped 1.91 to 36.18.

Checking percent-gain leaderboard, Aurinia Pharmaceuticals Inc. (AUPH) bounced 55 cents, or 16%, to 4.05, on 9.9 million shares traded.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) advanced 1.85, or 26%, to 8.87, on 13.4 million shares traded, reaching as high as 9.75.

Net 1 Ueps Technologies Inc. (UEPS) climbed 2.00, or 22%, to 11.00, on 2.6 million shares traded. Resolute Energy Corporation (REN) closed up 5.02, or 20%, to 30.70, on 5.2 million shares traded. BioTelemetry, Inc. (BEAT) popped 2.42, or 13%, to 20.75, 1.8 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices started the day out with a gap up and a strong run early on, they pulled back very hard in the morning, and got to session highs on the Nasdaq 100 just before noon. At that point, the S&P 500 made a higher high. In the afternoon, they consolidated in wedges, tried to break out late, the S&P 500 actually making a new high at 2164, but the Nasdaq 100 couldn’t confirm, and in the last hour they pulled back to close positive on the day.

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