Closing Analysis

Consolidation Day Wed May 22nd 2019

The market seems to have turned around again on Wednesday, this time to the downside. The indices made a sharp move down at the opening, went three wedges down, moved up, pulled back, reached mid-morning highs at 2865.47 S&P 500 and 7432.80 Nasdaq 100. They pulled back, ascended three waves up, pulled back sharply, bounced, and then plunged, the S&P 500 reaching down to 2852 S&P 500 and 7411.19 on the Nasdaq 100. Going into the noon hour, they rallied back to 2861.64 S&P 500 and 7444.89 Nasdaq 100.

Turn-Around Tuesday Tue May 21st 2019

It was turn-around Tuesday for Wall Street on Tuesday, the indices opening to the upside, they came three waves down, popped, pulled back to the session lows at 2854.02 S&P 500 and 7417.07 Nasdaq 100. They moved up in wedges, reaching session highs on the S&P 500 at 2868.88, but not so on the Nasdaq 100. They pulled back, rolled over, popped, coiled and consolidated from the noon hour to mid-afternoon as they worked their way higher, the Nasdaq 100 reaching session highs at 7472.61.

Mixed Volatile Session Mon May 20th 2019

Markets opened sharply lower on Monday morning. The indices gapped down sharply, snapped back and formed Bear wedges and flags, pulled back, the S&P 500 testing resistance at 2840.87, and then rallied to 2844.74. They pulled back, rallied, attempted retesting morning highs near 2854 S&P 500 and 7424 Nasdaq 100, rolled over, came down, tested support, rallied to 2853.66 S&P 500 and 7424.59 Nasdaq 100. They then moved 3 waves down, and coiled from early afternoon into late afternoon with an hour to go.

Consolidation Day, Positive Close Thu May 16th 2019

The stock market opened with a bang on Thursday, immediately taking the indices three wedges up, they moved horizontally for about a minute, consolidated, coiled, and reached midmorning highs at 2609.79 S&P 500 and 7609.29 Nasdaq 100. They rolled over, tested support, rallied back, consolidated through the noon hour, and popped to 2891.58 S&P 500 and 7627.03 Nasdaq 100. Early afternoon, they came down, pop slightly, couldn’t get through resistance, rolled over, attempted rally, but it was weak and failed.

Market Takes off on Trumps Auto Tariff Reporting Wed May 15th 2019

The stock market, after regaining lost ground from Tuesday’s session, opened to the upside on Wednesday, immediately taking the S&P 500 to 2848.00 and the Nasdaq 100 to 7380.39, but after weak economic data came out, the S&P 500 reversed and took a nosedive into the red abyss, rallied back up, only to rollover, dropping all the way down from the early morning highs to 2817.25. The Nasdaq 100 went from 7380.39, pulled back, rallied to 7395.39, pulled back again, and then rallied to 7436.60.

Volatile Mixed Turn-Around Tuesday Tue May 14th 2019

It was turn-around Tuesday for Wall Street and a much needed turn-around. Even though it was a mixed, volatile session, talks that there may be some negotiations between the U.S. and China that could benefit both countries, the market began its journey to the upside. The day started out with gaps up, they pulled back, rallied, reaching 2838.02 S&P 500, and 7402.84 Nasdaq 100. They bounced around midmorning, consolidated, rose 3 waves up to new session highs at 2848.36 S&P 500 and 7438.

Tariff Conflict Continues to Impact Wall Street Mon May 13th 2019

Wall Street’s main indices got hit hard on Monday after China announced plans to retaliate with higher tariffs on a range of goods, including frozen vegetables, which could further impact farmers in this country. It was a week ago Sunday, when Trump began a series of tweets threatening to raise tariffs on $200 billion in China goods from 10% to 25%, and the market tumbled for the next five days.

Stocks Bounce Off Lows, but Still Closes Negative Thu May 9th 2019

Markets had another volatile down day on Thursday, but stocks came off the lows and recovered at bit after Trump hinted that trade deal with China was still possible. The day started out with gaps down, they came down lower, reached midmorning lows at 2844.12 S&P 500 and 7479.25 Nasdaq 100. They formed bear flags and wedges, popped slightly to 2848.98 S&P 500 and 7524.28 Nasdaq 100, pulled back slightly, and rallied into the noon hour.

Finish Mostly in the Red after Volatile Session Wed May 8th 2019

Markets swung between gains and losses in morning trading on Wednesday as investors have been on edge since Trump threatened to impose more tariffs on Chinese goods.The day started out with big gaps to the downside, but they reversed almost immediately, ran up, rolled over, and came down in a 3-wave decline. They then rallied, reached midmorning highs on the S&P 500 at 2897.47 and 7676.69 Nasdaq 100.

Stocks Sink As Fear of Tariffs on Chinese Goods Rise Tue May 7th 2019

The stock market had a very volatile negative session on Tuesday and stock decline deepened with the Dow dropping more than 600 points as investors are convinced Trump will follow through on threats to enact tariffs on China. The day started out with big gaps down, and it was all downhill from there. Indices tried to rally midmorning but faded. They tried again just before the noon hour, and again, they were just too weak to rally. They came back down and retested successfully.

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