Closing Analysis

Market Rallies on Trade Rumors Thu Jan 17th 2019

The stock market had a very positive session on Thursday, although they started out with futures lower. They gapped down, and within a minute, or two, they started to rally and rallied all day, with a very sharp pop in the morning, backed and filled, and formed wedges. They broke out to the upside, tested the highs, but they continued to consolidate sideways for a few hours on the Nasdaq 100 while the S&P 500 continued with nominal new highs. In the afternoon, when rumors hit that the U.S.

Late Sell-Off, Mixed Close Wed Jan 16th 2019

The stock market had a mixed session on Wednesday, starting out with a pop to the upside, a very sharp move that took the Nasdaq 100 new rally highs to 6720 and the S&P 500 to 2624, which was also a new rally high. They came down pretty sharply and held twice at intraday support, after filling the open gaps. They then formed big wedges and broke out.

Negative Day on Wall Street Mon Jan 14th 2019

The markets had a profit taking day on Monday. The day started out with a nasty drop right at the opening on sharply lower futures, but then they rallied back in the morning, stabilized, and made higher highs in the afternoon on the S&P 500. When Nasdaq 100 could not confirm, the rolled over in a 3-wave decline, closing definitively negative on the day, but not terribly so, although technicals confirmed the decline. Net on the day, the Dow was down 86.11 at 23,909.84. The S&P 500 was down 13.65 at 2582.

Another Positive Day, Good Technicals Wed Jan 9th 2019

The stock market had an up-day on Wednesday, starting out with a move to the upside, and then they had a sharp pullback. They rallied against a new high for the rally, getting up to 6630 on the Nasdaq 100, and 2595 S&P 500. After the FOMC statement, the indices had a little pop, and then a sharp drop. That held support, and then bounced pretty sharply again. In the last half hour when they pulled back one more time, they bounced, and finished up on the day, but off the highs.

Volatile Session, Bullish Finish Tue Jan 8th 2019

The stock market had a very solid session at the close on Tuesday, but it was an interesting, volatile day getting there. The day started with gaps up sharply, and the markets had a nice ten minutes, before they sold off very sharply, taking the Nasdaq 100 from 6575 down to 6457, about 118 points south, and the S&P 500 from 2580 down to 2537, about a 43-point drop.

Bullish Start to the Week Mon Jan 7th 2019

The stock market started the week out with a nice gain on Monday, although they were off the highs with an afternoon sell-off. The day started out with a little pop to the upside, they pulled back, a wedge formed, and right there they started to rally, and had a nice 5-wave move into early afternoon when they reached their highs at 6520 on the Nasdaq 100 and 2566 on the S&P 500. In the afternoon, a falling wedge pulled back to the trendline.

Dow Falls 660 Points. AAPL is the Culprit Thu Jan 3rd 2019

The stock market had a very tough day on Thursday, gapping down at the opening, dropping very sharply early on, then a 100-point rally on the Nasdaq 100 and 45-points on the S&P 500, but that quickly dissipated after the decline took them to the lows for the day going away. Net on the day, the Dow was down 660.02 at 22,447.89. The S&P 500 was down 62.14 at 2447.89. The Nasdaq 100 was down 213.74, or more than 3%, at 6147.13.

Wall Street Started 2019 on a Positive Note Wed Jan 2nd 2019

The stock market opened sharply lower on Wednesday after very weakened economic data out of China reminded investors that their crazy economy had a negative impact on global growth and corporate development as well. In the afternoon, they had a very strong rally, the Nasdaq 100 going from under 6220 all the way up to nearly 6400, 175 points, and the S&P 500 went from 2458 to 2520, 62 points. They then had a sharp pullback, testing the morning pullback lows. That held.

Spectacular Bullish Session Thu Dec 27th 2018

The markets had an incredible, volatile day on Thursday. The day started out as the indices gave back fifty percent of Wednesday’s huge rally, the Dow down more than 600 points, at one point in the day. The S&P 500 dropped dramatically as well as did the Nasdaq 100 in 5-waves decline. By mid-afternoon, they reached just under 6050 on the Nasdaq 100 and under 2400 on the S&P 500, which completed 5 waves down intraday and set up the possibility of a rally back even a strong one.

Spectacular Historic Day for Wall Street Wed Dec 26th 2018

It was a spectacular, historic day on Wall Street on Wednesday as the markets first gapped up and pulled back, on the S&P 500, to a nominal new mutli week low under 2350, nearly 600 points off the all time highs reached just 3 months ago. The Nasdaq 100 managed to hold 5920, which is above Friday’s low at 5900. With that kind of positive divergence, a morning rally was triggered, extending all day, and really accelerating in the last three hours.

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