Closing Analysis

Key Support Gives Way, Late Rally Attempt Fails Again Wed Nov 14th 2018

The markets had another negative day on Wednesday. They opened strong, got right up to resistance, and then sold off most of the day. In the afternoon they had a nice, corrective-type rally, taking back nearly 60% of the losses, but unable to sustain secondary resistance, they pulled back into the close to finish negative. Net on the day, the Dow was down 205.99 at 25,080.50. The S&P 500 was down 20.60 at 2701.58. The Nasdaq 100 was down 61.03 at 6769.87.

Difficult Consolidation-Type Day Thu Nov 8th 2018

The markets had a difficult, but consolidation-type day on Thursday. It was a very choppy day. They ran up in the morning, but then sold off the rest of the day in a choppy fashion. Late in the day they came back and closed mixed. Net on the day, the Dow was up 10.92 at 26,191.22. The S&P 500 was down 7.06 at 2806.83, 12 points off the low. The Nasdaq 100 was down 44.54 at 7158.59, 33 points off the low.

Fantastic Day for the Market Wed Nov 7th 2018

The stock market had a breakout and breakaway day on Wednesday. The indices opened with gaps up, took a little dip early morning, and then sailed the rest of the day, closing up sharply higher on the day going away. Net on the day, the Dow was up 546.29 at 26,180.30. The S&P 500 was up 58.44 at 2813.89, up more than 2%. The Nasdaq 100 was up 214.29 at 7203.13, up more than 3%. Advance-declines were better than 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on the Nasdaq.

Election Day Solid Session Tue Nov 6th 2018

The stock market had a very solid session on Tuesday, the Nasdaq 100, which exploded at the get-go, but came down in a 3-wave decline, giving back all of the gains. The S&P 500 did a little bit better. They both came back strongly late in the day in the last hour, closing solidly in the plus column. Although the Nasdaq 100 closed more than 10 points off its high, all three indices closed in the green on this, what is being called, historical US Election Day. Net on the day, the Dow was up 173.31 at 25,635.

Blue Chip Monday Mon Nov 5th 2018

The markets had an interesting session on Monday. As the markets came down early on the Nasdaq 100, except for the tech stocks, the blue-chip stocks quickly recovered, and the S&P 500 and Dow had a really good day. At the end of the day, after rallying all afternoon, and pulling back late, they bounced into the close. Net on the day, the Dow was up 190.87 at 25,461.70. Ahead of election day, which is interesting. The S&P 500 was up 15.25 at 2738.31, 8 points off the high. The Nasdaq 100 was down 28.

Strong Follow-Through Session Thu Nov 1st 2018

The markets had a really strong day on Thursday, to say the least. The day started out with a pop up, and then they pulled back to test support. When that was successful, they ramped up again in a 5-wave advance, the markets rallying all day. The Nasdaq 100 went from 6932.21 to 7071.84, 140 points, and the S&P 500 went from 2714.12 to 2740.43. It was an excellent session, closing near the highs for the day. Net on the day, the Dow was up 264.98 at 25,380.74. The S&P 500 was up 28.63 at 2740.37.

Another Good Day for the Market Wed Oct 31st 2018

The stock market had a really good day on Wednesday, but it could have been huge. The day started out with big gaps up, they ran sharply, pulled back to test the gaps and held, and then made higher-highs. When they couldn’t advance beyond the session highs late in the session they sold of sharply, the Nasdaq 100 pulling back from over 7020 to 6966, about 55-60 points in the last 45 minutes. The S&P 500 rolled over from 2736 to 2711, losing 25 points. Still, they ended the session in the green.

Turn-Around Tuesday Tue Oct 30th 2018

It was turn-around Tuesday for the stock market on Tuesday. The markets surged from the get-go, got up to key resistance at 6800 Nasdaq 100 and 2670-72 area on the S&P 500. They backed and filled, took a dip early afternoon that was only a shallow break of support, and had a strong afternoon rally that took the Nasdaq 100 from a pullback low near the 6670 range to 6812, closing at the highs for the day going away. The S&P 500 popped from 2640 to 2683. Net on the day, the Dow was up 431.72 at 24,874.

Wild and Crazy Start to the Week Mon Oct 29th 2018

The markets gapped up on Monday, looked like they were going to explode, got to resistance, failed, and rolled over. In the afternoon the market imploded with a big negative TICK  of over 1500. The market at that point was oversold and reached an intraday bottom. We called for a rally, and we got one, a sharp one. The Nasdaq 100 went from 6575.00 to 6722.83, about 125 points in the last 15 minutes. The S&P 500 went from 2603.54 to 2642.00, nearly 40 points.

Strong, Positive Reversal Day Thu Oct 25th 2018

The markets had a very strong rally on Thursday. They gapped up, ran hard, consolidated midday, started another rally, a leg up in the afternoon, the Nasdaq 100 exploding 275 points, the S&P 500 up 65 points, and the Dow was over 500, at one point in the day. It took some profit-taking to pull them back, but they finished strongly positive on the day. Net on the day, the Dow was up 401.13 at 24,984.55. The S&P 500 was up 49.47 at 2705.57, 17 points off the high. The Nasdaq 100 was up 227.23 at 7016.



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