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 Turn-Down Day

Stock-Markets / Stock Markets 2016 Aug 18, 2016 - 12:10 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices had an interesting down day, and then up day, finishing in the plus column after the FOMC announcement indicating no interest-rate rising. The day started out with a move to the downside, they formed bear wedges, went lower, and by midday they were at their session lows. They rallied during the noon hour, and when the FOMC announcement came, they spiked up, and after pulling down briefly, they pulled back and spiked up again, and closed near the highs for the day.


Net on the day, the Dow was up 21.92 at 18,573.94. The S&P 500 was up 4.07 at 2182.22. The Nasdaq 100 up 8.27 at 4805.45.

Advance-declines were slightly positive by 130 issues on the New York Stock Exchange, and negative by 500 issues on the Nasdaq. Up/down volume was 17 1/2 to 15 1/2 negative on New York, total volume of 3.3 billion shares traded. The Nasdaq traded 1.7 billion shares and had an 87 to 84 negative volume ratio.

TheTechTrader.com board was mixed. Priceline.com (PCLN) was up 18.54 to 1427.20, Google Inc. (GOOG) up 2.77 to 779.91, Amazon.com Inc. (AMZN) up 59 cents to 764.63, Netflix, Inc. (NFLX) 1.25 to 96.37, but Apple Inc. (AAPL) closed down 15 cents to 109.22

Baidu, Inc. (BIDU) dropped 57 cents to 172.73, First Solar, Inc. (FSLR) also down 85 cents to 36.89, and Facebook, Inc. (FB) gained 1.07 to 124.37.

Tesla Motors, Inc. (TSLA) gave back another 37 cents to 223.24.

Other stocks to the upside included Acacia Communications, Inc. (ACIA) had a big day today, exploding 13.12 to 115.29, and has reaching 119.40 in after hours. Medivation, Inc. (MDVN) ran 1.27 to 66.48, on news that Merck is looking to buy the company. Teladoc, Inc. (TDOC) thrust 89 cents to 18.78.

On the downside, the only point-plus loser on our board today, NVIDIA Corporation (NVDA), lost 1.45 to 61.15 on profit taking.

Checking TheTechTrader.com percent-gain leaderboard, SCYNEXIS, Inc. (SCYX) bounced 53 cents to 2.59, or 26%, on 7.3 million shares. Nymox Pharmaceutical Corporation (NYMX) climbed 49 cents to 2.50, or 24%, on 2 million shares. InVivo Therapeutics Holdings Corp. (NVIV) rose 79 cents to 6.97k o9r 3%, on 1 million shares. Cyclacel Pharmaceuticals, Inc. (CYCC) ran up to 9.13, before closing at 8.00, up 9.4%, on 4.7 million shares.

Auris Medical Holding AG (EARS) let the way up today, up 1.51 to 5.35, or 39%, on 3.2 million shares.

Proteostasis Therapeutics, Inc. (PTI) jumped 3.16 to 19.41, or 19%. Urban Outfitters Inc. (URBN) ran 4.81 to 36.05, or 15%, on 14 million shares on earnings. Trillium Therapeutics Inc. (TRIL) closed up 1.54 to 13.00, or 13%. Valeant Pharmaceuticals International, Inc. (VRX) had a good day, up 3.40 to 30.00, or 13%, on 81 million shares. OSI Systems, Inc. (OSIS), Inc. popped 7.58 to 68.23, or 12 1/2%. Impinj, Inc. (PI) made its way up 2.52 to 23.47, or 12%.

Stepping back and reviewing the hourly chart patterns, the indices were down in a 3-wave decline by midday, and rallied in a 5-wave advance at the end of the day.

It was an interesting day, support held, resistance did not. We’ll have to see if they will break out again to re-establish the trend, or the rally at the end of the day was post-FOMC that caused a rally back to resistance. It’s a key time for the indices here, and we’ll have to see which direction that take.

Good Trading!

Harry

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 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