Closing Analysis

Rate Cut Pleases Wall Street Wed Sep 18th 2019

The stock market had a down day on Wednesday and looked more like a consolidation day, but intraday, indices had a little dip, a pop and a pullback. However, it wasn’t until the FOMC meeting began and the Fed announced that there would be a rate cut, that the action began. Indices exploded to test key resistance at 3002 S&P 500 and 7865 Nasdaq 100, then reversed sharply lower to the lows for the session.

Late Strong Surge and Close Tue Sep 17th 2019

The stock market opened mixed on Tuesday as markets awaited the afternoon FOMC meeting. They gapped up at the opening, plunged straight down to morning lows, and then moved back up just as sharply. All morning, indices formed sharp wedges, the S&P 500 tighter and sharper wedges than the Nasdaq 100 and Dow. Midmorning, they plunged to session lows. During the noon hour, they tested support, couldn’t get through, and pulled back in falling wedges.

Very Negative Day to Start the Week Mon Sep 16th 2019

The stock market had a very sloppy, negative day on Monday, opening to the downside, remaining red all day, and closing to the downside. Indices reached morning highs midmorning, and the days lows just as they were approaching the noon hour. The afternoon consisted of testing the lows, consolidating, forming wedges and coils, and a pop into the close. A very negative day for Wall Street. Net on the day, the Dow was down 142.70 at 27,076.82. The S&P 500 was down 9.43 at 2997.96. The Nasdaq 100 was down 40.

S&P 500 Inches Toward All-Time Highs Thu Sep 12th 2019

The stock market was sloppy on Thursday and closed way off the highs. The day started out with a gap to the upside, they pulled back, and then when the news that Trump would wait until Oct 15 to impose additional tariffs on China, the market shot straight up to 3017 S&P 500 and 7968 Nasdaq 100. They bounced around a little, and then slid down to test the morning lows, couldn’t get through, and bounced.

Fantastic Day for Wall Street Wed Sep 11th 2019

The stock market had a fantastic day on Wednesday. All three indices opened to the upside. Midmorning, the S&P 500 and Dow made a sharp pop, pulled back just as sharply, and then all three indices continued their climb. They formed wedges, consolidated, and coiled as they moved forward and higher. At the start of the noon hour, the Nasdaq 100 ran up to session highs, tested support, pulled back, bounced, and then retest the high, but didn’t get through.

Mixed Topsy-Turvy Day Tue Sep 10th 2019

The stock market was rather topsy-turvy on Tuesday as it followed through on Monday’s down day to open red and stayed red nearly all day.  The day started out with a drop to the downside on weak economic data from China that triggered recession fears. Indices reached morning lows, popped, and by midmorning they reached the lows for the day, which were retested several times during the session.

Market Loses Steam, Indices Close Mixed Mon Sep 9th 2019

The stock market opened higher for the fourth consecutive session on Monday, but almost immediately moved down, and then spiked lower. Indices rallied back up, consolidated, but by midmorning, they started a huge rollover that took them through the noon hour to session lows on the S&P 500 but not the Nasdaq 100. After a pop and pullback intraday, indices rolled over to session lows on the Nasdaq 100. They then consolidated as they moved back up, but, still, closed negative on the day.

Stocks Rise on News that U.S./China Trade Talks to Resume Thu Sep 5th 2019

The stock market had another positive session on Thursday as indices opened to the upside. Once news that the U.S. and China were set to resume trade talks penetrated the market, they reached session highs midmorning. They pulled back slightly, and then took off, moving across the day, coiling as they went and staying just above resistance the entire day, until the last 20 minutes when they pulled back slightly, popped, and then rolled over into the close to close with another day of major gains.

Positive Day for Wall Street Wed Sep 4th 2019

The stock market had a very positive day on Wednesday. It was a little topsy-turvy, but for the most part it was a consolidation day. The day started out with a pop to the upside, indices pulled back midmorning, but took off, consolidated, and moved up, pushing up through resistance around the noon hour. They pulled back, made a nice thrust back up and continued to move higher until they reached a triple-top high intraday, and then pulled back slightly into the close.

DOW Closes 285 Points Lower to Start the Month Tue Sep 3rd 2019

The stock mark had a volatile day on Tuesday as the trade war between China/U.S. continues to have a meaningful impact on the stock market. Indices opened to the downside, and after new tariffs went into effect, the Dow dropped more than 350 points by midmorning. To add fuel to the fire, ISM Manufacturing numbers for August were lower than expected. The S&P 500 and Nasdaq 100 also plummeted sharply lower but moved back up in wedges.

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