Closing Analysis

Nasty Day on Wall Street Thu Aug 17th 2017

 It certainly was a nasty day on Wall Street. The stock market indices started the day off with a break down, they snapped back to resistance, then stair-stepped their way down in a perfect-parallel down channel all day, closing at the lows for the day going away.  Net on the day, the Dow was down 274.14 at 21,750.73. The S&P 500 was down 38.10 at 2430.01. The Nasdaq 100 was down 121.10 at 5796.32. That was nearly 2%.

Narrow Conslidation Day Tue Aug 15th 2017

The stock market had a fairly narrow trading session on Tuesday. After a pop at the get-go, they came down, tested support, bounced, and then meandered most of the day back and forth, holding support, but were not able to get through resistance. At the end of the day they tried one more time, made a nominal new afternoon high, but couldn’t get through the morning high, and backed off in the last ten minutes to put a damper on the session, putting the S&P 500 and Nasdaq 100 slightly in the negative.

BIG Start to the Week Mon Aug 14th 2017

The stock market had a big day on Monday to start the week and had huge opening gaps when futures were sharply higher. The Nasdaq 100 opened at 5875, and exploded to 5910 before backing and filling the rest of the day. At the end of the day, they did pop to 5915 before the last five-minute pullback.   Net on the day, the Dow was up 135.39 at 21,993.71, with a high of 22,039. The S&P 500 was up 24.52 at 2465.84. The Nasdaq 100 was up 76.63 at 5908.17.

Hard Down Day Breaks Support Thu Aug 10th 2017

The stock market got smashed today as the indices gapped down sharply on more sabre rattling between North Korea and the US  The markets fell sharply in the first hour, bounced, but then came down sharply again midday, and bounced in the afternoon. It looked like, perhaps, an intra-day bottom was to be had, but important resistance could not be taken out, and then they rolled over in a fifth intraday wave, closing near the session lows.

Early Drop, Afternoon Pop Wed Aug 9th 2017

The stock market indices had a very topsy-turvy, volatile session with futures down very sharply last night and this morning. The indices gapped down sharply, the Nasdaq 100 slid to 5866, and the S&P 500 plunged to 2462. They both rallied sharply, after that and by midday reached their rally highs. After taking the Nasdaq 100 from 5866 to 5918 and the S&P 500 from 2462 to 2473, they had a 3-wave corrective pullback, and a retest occurred that took them back to 5890 Nasdaq 100 and 2465 S&P 500.

A Very Topsy-Turvy Day Tue Aug 8th 2017

The stock market had a very volatile session that was very strongly higher in the morning, and sharply lower in the afternoon. It appears as though the market did not like the saber rattling and war mongering between North Korea and Trump. The indices ran sharply lower and bounced near the close. The day started out with a little dip to the downside, they held support, and then rallied, the Nasdaq 100 going from 5915 to 5974, and the S&P 500 going from 2476 to 2491.

Strong Start to the Week Mon Aug 7th 2017

The stock market had a strong start to the week, with a gap up, a little bit of a pullback, and then the indices rallied all day. They went into a bit of a consolidation midday, and then closed not far off the session high. The problem for indices today is that they had a lack of broad technicals. Net on the day, the Dow was up 25.61 at 22,118.42. The S&P 500 was up 4.08 at 2480.91, closing right at resistance. The Nasdaq 100 also closed at resistance just under 5935, up 34.82 at 5934.73.

Mueller Announcement Spooked Market Late in the Day Thu Aug 3rd 2017

The stock market indices had another mixed session. The day started out with a plunge to the downside, then the indices had a strong surge back, they worked their way down to test support, making lower lows on the S&P 500, but higher lows on the Nasdaq 100.

DOW Reaches Over Twenty Thousand for First Time Ever Wed Aug 2nd 2017

The stock market indices had an interesting day as they opened to the upside, then came down in a 5-wave decline, but from that point, they had a nice, long serve back, taking back the majority of the pullback, and ended positive on the session. Net on the day, the Dow was up 52.32 at 22,016.24, closing above 22,000 for the first time ever. The S&P 500 was up 1.22 at 2477.57. The Nasdaq 100 was up 19.06 at 5914.23, 65 points off the low.

Mixed but Mostly Lower Start to the Week Mon Jul 31st 2017

The stock market indices started the week with a pop to the upside that tested resistance, but failed immediately, and then sold off very sharply. The Nasdaq 100 went from 5932.00, and change, all the way down to 5870.02, about a 60-point sell-off, and the S&P 500 dropped from 2478.00 to 2469.50. They then bounced, and then spent the rest of the day backing and filling and basing.

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