Closing Analysis

Spectacular Session! Thu Nov 16th 2017

The stock market had a spectacular day today, and a fantastic run up off the opening up gaps . The indices ran strongly after  the opening gaps  and only in the afternoon when they reached a midday peak did they pull back in the last couple hours, but gently so, and in a very orderly fashion. Net on the day, the Dow was up 187.08 at 23,458.36, some 30 points off the high. The S&P 500 was up 21.02 at 2585.64, less than 5 points off the high, and not far from the all-time high.

Volatile session ends lower despite mid day rally back Wed Nov 15th 2017

The stock market indices had a very volatile day starting with big gaps down, then slipping to lower-lows . They picked up near support and rallied back very strongly, taking back about thee quarters of the losses, and then pulled back in falling wedges by mid day. They tried to rally in the afternoon, but couldn’t take out the highs, and rolled over hard in the last hour. Only a late, 5-minute bounce prevented them from closing at the afternoon pullback lows. Net on the day, the Dow was down 138.

Afternoon rally back saves the day ,but the indices suffer losses Tue Nov 14th 2017

The stock market suffered some losses today, but they had an interesting rally back late in the day to close near  the highs for the day on the S&P 500, although they were still down on the day because of the early sharp down gap. The day started out with big gaps down, then they fell sharper, reaching all the way down to 6255 Nasdaq 100 and 2566 S&P 500. They rallied sharply mid morning and reached back up toward the declining moving averages at resistance there , and then rolled over to retest.

Positive day, Weak Technicals Mon Nov 13th 2017

The stock market ended the day on a positive note, but with weak technicals. The day started out with a big gap down, but the indices held them right there, and then they rallied the rest of the day, until the last hour when a 5-wave advance had slightly taken out resistance, but not strong enough to make it meaningful. In the last 45 minutes the indices came down sharply, but bounced into the close.  Net on the day, the Dow was up 17.49 at 23,439.70. The S&P 500 was up 2.54 at 2584.84.

Solid Day for Many Stocks Thu Nov 9th 2017

The stock market was lower today, but came way off the earlier lows, which were quite steep. Spooked by the Senate, potentially postponing tax reforms, the markets gapped down and dropped sharply lower, had a 3-wave corrective, bear-flag type rally, and then got hammered shortly during the noon hour where they reached their lows for the day. At that point, the Nasdaq 100 was under 6250, down nearly 100 points, and the DOW was down 250 points, but rallied back to close down around 101.00.

Dow & NDX set more new Highs Wed Nov 8th 2017

The markets had a positive day with the DOW and Nasdaq 100 setting new all-time highs, and the S&P 500 came up a little bit short, but all three indices closed in the positive column. The day started out with a pop to the upside, then they pulled back and retested, and when that was successful, they came on again strongly, and channeled up all afternoon.  At the end of the day they pulled back, and in the last 5 minutes they bounced again to close positive.  Net on the day, the Dow was up 6.

Good Consolidation Day Tue Nov 7th 2017

The stock market indices had a tough session today, and even though they closed narrowly mixed, the underlying technicals were not good, particularly on the NYSE. They popped at the get-go, and all of the indices reached new all-time highs, with the Nasdaq 100 at 6328.58, the S&P 500 at 2597.02, and the DOW at 23,602.12.  Net on the day, the Dow was up 8.81 at 23,557.23. The S&P 500 was down .49 at 2590.64, closing 7 points off its high. The Nasdaq 100 was up 7.17 at 6,320.

A Good Start to the Week Mon Nov 6th 2017

The stock market had a good session to start the week with the major indices all hitting new highs, although the patterns that you see for the indexes were solid,the technicals were rather unimpressive. They started the day by running up in the morning, pulling back to test support from the breakout on Friday, held that level on both indices, and then ran up to new all-time highs. Only a little bit of a pullback prevented them from closing at the highs for the day.

Mixed, Narrow, but Positive Close Wed Nov 1st 2017

The stock market indices had a positive session, but it was a difficult road getting there. The day started out with a gap to the upside, reaching new all-time highs on the S&P 500 at 2588.40 and 6276.66 on the Nasdaq 100. They then came down hard in a 5-wave decline until midday when they reached the lows for the day. The Nasdaq 100 pulled back 50 points and the S&P 500 about 13 points. They rallied back, got up to resistance, and backed off into the close, but still closed positive.

Mixed Day to Start the Week Mon Oct 30th 2017

The stock market started out the day with a bang, particularly on Nasdaq 100, reaching a new all-time high at 6250.85. The S&P 500 did not confirm that, and formed a bear flag that failed at resistance. They then sold off very sharply, taking the Nasdaq 100 down 48 points from 6250.85 to 6202.53, and the S&P 500 from 2580.00 to 2568.00. They bounced around, formed wedges, and at the end of the day they came on with a bit of a rally, only to pull back in the last five minutes to finish mixed on the day.

©2001-2017 TheTechnicalTrader (, a publication of AdviceTrade, Inc. All rights reserved.