Closing Analysis

All-Time Closing Highs for the NDX Thu May 25th 2017

The stock market indices had gains today, only a late selloff prevented them from all-time highs, but they actually did close at all-time closing highs. The day started out with a big pop to the upside, particularly on the Nasdaq 100 when they went higher in a 5-wave advance. Only at that point, at 5793 did they start to give the Nasdaq 100 a late, 3-wave corrective pullback. It reached 5776, a loss of about 17 points in the last hour.

FOMC Comment Spurred Market to New All-Time Highs Wed May 24th 2017

The stock market had a very nice day today, and an extraordinary recovery continued. The S&P 500 and Nasdaq 100 now recovered an entire drop from last Wednesday, and then some.  Net on the day, the Dow was up 74.51 at 20,012.42. The S&P 500 was up 5.97 at 2404.39. The Nasdaq 100 was up 26.96 at 5730.30, a new all-time high. Advance-declines were 4 to 3 positive on the New York Stock Exchange, and 16 to 13 positive on the Nasdaq.

Excellent Consolidation Day Tue May 23rd 2017

The stock market indices had a very excellent consolidation day, ending with gains on the day. The day started out with a pop to the upside, then a quick pullback, but the S&P 500 went to new highs, and the Nasdaq 100 failed to do so. When that happened, they pulled back midday. They tried to rally in the afternoon, unable to take out the highs. They pulled back at the end of the day, but then a quick, ten-minute snapback ensued that put them in the plus column. Net on the day, the Dow was up 43.

Good Day to Start the Week Mon May 22nd 2017

The stock market indices had a exceptional up-day today. The day started out with a gap to the upside, then a sharp run-up, they consolidated in the morning, continued midday, pulled back early afternoon, and ran again for a fifth wave in the afternoon, finishing near the session highs for the day. Net on the day, the Dow was up 89.99 at 20,894.83. The S&P 500 was up 12.29 at 2394.02. The Nasdaq 100 was up 47.84 at 5699.40.

Blood Bath from the Get-Go Wed May 17th 2017

The stock market indices had an extreme turn-around day today. The day started out with a plunge at the get-go, the futures going sharply lower based on the Trump news, they had a very brief five or ten-minute bounce, and then came down hard and plunged again. By late morning, the market formed bear wedges after rallying back, but could not sustain, and rolled over hard in the afternoon. Late in the afternoon, they formed bear flags, and went even lower.

NDX Reached New All-Time High Tue May 16th 2017

The stock market indices had a mini volatile session as they opened sharply high, came down sharply, held support, rallied sharply midday, pulled back in the afternoon, and closed very sharply on the Nasdaq 100, reaching new all-time highs. Although the S&P 500 was dissimilar in that it made two consecutive lower highs verses the Nasdaq 100 making two higher highs, that was decidedly negative divergence. We’ll see whether or whether not that plays out tomorrow. Net on the day, the Dow was down 2.

Closed Firm Near the Highs for the Day Mon May 15th 2017

The stock market indices had an interesting, bullish day today. The day started out with a pop to the upside, they rallied to new all-times highs on the Nasdaq 100 to 5607, and tied the highs on the S&P 500 at 2404. They then pulled back, consolidated, and at the end of the day they came on again, all three indices closing in the positive column. Net on the day, the Dow was up 85.33 at 20,981.94. The S&P 500 was up 11.42 at 2402.32. The Nasdaq 100 was up 17.67 at 5704.48.

Rally Doesn’t Quite Take the Indices into the Green Thu May 11th 2017

The stock market indices had a very intriguing session. The day started out with a big gap down, they dropped sharply, double-bottomed near the session lows around an hour after the opening, and then a very strong rally ensured that lasted all day. Although they didn’t quite take back all of the losses, they took back a big chunk of them, but still closed down on the day. Net on the day, the Dow was down 23.69 at 20,919.42, 123 points off the low. The S&P 500 was down 5.19 at 2394.

Interesting Sell-Off Day Wed May 10th 2017

The stock market had an interesting day today with the indices down in the morning, up midday, and rallying right to within an hour of the close, but could not get through the highs, and then a sharp sell-off ensured. They did hold secondary support, came back very sharply, and finished near the highs for the day. Net on the day, the Dow was down 32.67 at 20,943.11, about 58 points off the low. The S&P 500 was up 2.71 at 2399.63, a penny from its high.

Nasdaq 100 Rockets to New All-Time Highs Tue May 9th 2017

The stock market indices had a very interesting session. The Nasdaq 100 had a big gap up, and a sharp run in the morning, taking it up to over 5690, and the S&P 500 popped to 2404, both reaching new all-time highs. In the afternoon, they had a slow, 5-wave constructive pullback, although news of North Korea doing additional missile test caused the market to take a big hit.



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