Closing Analysis

Another Negative Day for Wall Street Thu Jun 21st 2018

The stock market had another difficult session on Thursday. The day started out with a gap down, then gapping slightly up, and as the market was falling apart the indices had a fast drop, the Nasdaq 100, testing Wednesday’s double-top at the opening, but couldn’t get through the 7308 range, and then rolled over hard reaching down to 7215, a 90-point drop. A long, 50% rallied ensued, but it looks more like rising wedges than bear wedges that were formed. The S&P 500 dropped from Wednesday’s high of 2775.

Weak Start Strong Finish (AGAIN!) Tue Jun 19th 2018

As it turns out, it wasn’t a turn-around Tuesday for the stock market as the indices imploded to the downside on very bad tariff news The Nasdaq 100 smacked down very quickly in the first 15 minutes, plunged to lower-lows, getting down to 7138.02, only to rally back to 7230.00. Still, it closed down on the day, but with a very big recovery. The S&P 500 also gapped down and plunged to 2743.19 but finished at 2765.05. Net on the day, the Dow was down 287.26 at 24,700.21, 133 points off the low.

Weak Start Strong Finish Mon Jun 18th 2018

The stock market indices started the week off with a loss on Monday. The Day started with an opening drop based on sharply lower futures due to trade tension based on tariifs imposed by Washington. After the market opened lower they slipped further for a few minutes and then rallied sharply, the Nasdaq 100 going from 7186.16 to 7256.43, and the S&P 500 went from 2757.12 to 2774.99.

Techs Strong on Thursday Thu Jun 14th 2018

The stock market had a volatile session on Thursday and closed mixed. The Nasdaq 100 had a very good day, opening with a strong surge to 7280, with the S&P 500 surging right up to resistance at 2789.06, and the Nasdaq 100 blew through resistance to a high of 7291.31, and then they backed off. They tried to extend the rally, but by midday the S & P 500 made a lower high, kind of a negative divergence.

Volatile FOMC Day Wed Jun 13th 2018

The stock market had a topsy-turvy, volatile session on Wednesday, mostly the result of the FOMC raising interest rates. The day started out with a gap up, a strong morning surge, the Nasdaq 100 reaching over 7261.00. The S&P 500 did make a nominal-new rally high over the double-top, reaching over 2791.00.

Volatile Constructive Session Tue Jun 12th 2018

The stock market had a volatile session, closing mixed on the day on Tuesday. The day started out with a pop to the upside, they backed and filled in the morning, broke out midmorning near the noon hour, and rallied to retest the highs on the Nasdaq 100 by midafternoon. When the S&P 500 did not confirm the nominal new high on the Nasdaq 100, they started to pull back.

Positve start to the week,but a weak close Mon Jun 11th 2018

The stock market indices had a positive session on Monday, but a late sell-off prevented it from closing even better than it did. The day started out with a pop to the upside, they tested resistance, and then pulled back and tested support. When that was successful, they ran up sharply to new snapback rally highs and pulled back midday, only to bounce in the afternoon.

Weak Session for NDX Thu Jun 7th 2018

The stock market had an interesting day on Thursday, the Nasdaq 100 and S&P 500 closing in the red column, while the DOW remained in the green throughout the session. The Nasdaq 100 opened with a gap down, stair-stepped its way lower, bounced around, made lower lows in the afternoon, rallied late afternoon, only to pull back into the close. Net on the day, the Dow was up 95.02 at 25,241.41. The S&P 500 was down 1.98 at 2770.37. The Nasdaq 100 was down 57.25 at 7152.83. TheTechTrader.

Strong Session for Wall Street Wed Jun 6th 2018

The stock market had a very-solid, strong up-day on Wednesday with underlying technicals that could have been better, but they weren’t bad, and at the end of the day they did improve. The day started out with a little pop to the upside, then a sharp pullback that held support. What that happened they rallied midmorning, pulled back early afternoon, held support, formed a flag, and then exploded.

Mixed Session with Good Techicals Tue Jun 5th 2018

The markets had a volatile day and a mixed session on Tuesday, with the Nasdaq 100 and S&P 500 closing in the plus column, the S&P 500 barely so, and the DOW closing down. The technicals were positive, so I would have to consider it a win for the market today. The day started out with a pop to the upside, the Nasdaq 100 reaching a new high of 7180, and the S&P 500 reaching 2752.50. Both indices formed a double-top and pulled back sharply.

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