Closing Analysis

Extremely Negative Reversal Day Wed Feb 21st 2018

The indices were going along as if they were having another big day today, but when the FOMC came out, the explosive little, early move post FOMC was about it for any further move to the upside today. At one point, the Nasdaq 100 reached under 6880, up more than a hundred points. They then plunged 120 points and closed at the low for the day going away. The S&P 500 dropped 47 points after being up about 33 points.

Explosive Rally Day Wed Feb 14th 2018

Yesterday’s consolidation was just that, a consolidation. From the get-go the futures were down, but then the market exploded, taking the Nasdaq 100 from 6520 to a mid-morning high at 6630, more than 110 points. They backed off with a 3-wave corrective move, held support, and ran from under 6600 to 6662, and then later in the day, jumped all the way up to 6682, before closing at 6675, and change. The S&P 500 went from 2650 to 2700, 50 points, in a 5-wave advance as well. Net on the day, the Dow was up 253.

Consolidation Day Tue Feb 13th 2018

The stock market got a decent-size, follow-through session, and acted very resilient today. Even though futures were down pre-market, and the markets opened lower, those were the lows for the day. They then rallied to resistance, pulled back and consolidated, broke out midday, and ran up into the last couple hours where they consolidated, but held, and closed in the green column. Net on the day, the Dow was up 39.18 at 24,640.45. The S&P 500 was up 6.94 at 2662.94, 6 points off its high.

Indices Plummet 4%! Thu Feb 8th 2018

It was a disastrous day on Wall Street today as markets plunged from the get-go. First, they had a 5-wave decline, and by midday they rallied off that, got to resistance, and rolled over hard in the last two hours.   Net on the day, the Dow was down 1032.89 at 23,860.46. The S&P 500 was down 100.66 at 2581.00. The Nasdaq 100 was down 275.92 at 6306.10.   Advance-declines were 8 1/2 to 1 negative on the New York Stock Exchange, and 2525 down and 450 up, or about 6 to 1 on the Nasdaq.

Volatile, Mixed Session Thu Feb 1st 2018

The stock market had another volatile day. The day started out with gaps down at the opening, they rallied to key resistance and formed rising bear wedges. At that point, I warned everyone to expect a retest or even to lower-lows, and that’s what we got. A nasty 3-wave decline ensued, taking the Nasdaq 100 to 6970, 90 points down from its session highs. and the S&P 500 dropped back 22 points. Only in the last fifteen minutes did it bounce a bit, bringing them off the lows.

Indices Close a Bit Higher with rather poor Non Confirming Technicals Wed Jan 31st 2018

The stock market took a real hit after opening with big gaps up that got right to resistance and failed there ,  then had a strong 3-wave decline. Only a late sharp rally brought them off the lows to finish in the plus column Net on the day, the Dow was up 72.50 at 26,149.39, about 100 points off the low. The S&P 500 was up 1.38 at 2823.81, 10 points off the low. The Nasdaq 100 was up 19.26 at 6949.99, about 34 points off its low.


The stock market had a very negative down-day and a nasty spill to follow-up yesterday’s drop. It appears that the back of the uptrend was broken. The indices quickly gapped below their moving averages, price support, and trendlines. The rest of the day was spent coiling, but at the end of the day they backed off near the session lows on the S&P 500, and it was not a good close. The president’s State of the Union speech is tonight, and it will be very interesting to see how that affects the market.

Definitive Down DAY to START THE WEEK Mon Jan 29th 2018

The stock market started the week off on a very weak note, the indices opening with downside gaps, they rallied, and then came down in 5-wave declines, tested support successfully, and then rallied back in 3-wave corrective move, with the Nasdaq 100 actually tagging its high from late Friday at about 7020. The S&P 500 could not get anywhere near that, but headed up to 2867, about 5 points short of its high.

Overbought Market Takes a Breather Wed Jan 24th 2018

The stock market took a breather and had a down-day today after an early pop to new all-time highs on the Nasdaq 100 at 6992.91, and then dove 113 points to 6880.68 in a 3-wave decline. The S&P 500 reached an all-time high at 2852.97, and then dropped down 28 points to 2824.81. They then rallied in the afternoon and pulled back into the close to finish down on the day.  Net on the day, the Dow was up 41.31 at 26,252.12. The S&P 500 was down 1.59 at 2837.54, 13 points of the low and 15 off the high.

Nasdaq Surges to Lead the Indices Higher Tue Jan 23rd 2018

The stock market had a pretty solid day today, especially on the Nasdaq 100, which had the Nasdaq Generals moving up dramatically throughout the session. A lot of the stocks in the biotech and semiconductor sectors were moving as well. The day started out with a snap and a thrust to the upside in a morning surge that reached 6969.40 Nasdaq 100 and 2842.24 S&P 500, and then they backed and filled the rest of the morning.

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