Closing Analysis

Sloppy Weak Session Tue May 22nd 2018

The stock market had a turn-around Tuesday as the indices, after a sharp up opening, got right up to resistance on both indices, and were unable to break out, They then fell hard to fill the opening gaps. They dropped in a 5-wave decline, tried to rally in the afternoon, the S&P 500 did not make a new high while the Nasdaq 100 did make a nominal-new intraday high. Then they sold off very sharply, taking the S&P 500 down from 2738 to 2722, 15 points, in just a couple hours.

Good Start To The Week Mon May 21st 2018

The stock market had a strong, but very volatile session on Monday. The day started with a Very Strong gap up at the opening where most of the gains were created. They then had a morning plunge to get them basically back to fill those opening gaps. They bounced back sharply in early afternoon, ran up to resistance, went down to retest the lows, bounced again in the last hour to close with a solid session.   Net on the day, the Dow was up 298.20 at 25,013.29. The S&P 500 was up 20.04 at 2733.01.

Strong Session for many Techtrader Stocks Thu May 17th 2018

The stock market indices had a whipsaw type  session on Thursday. They opened lower, spiked sharply higher, to over 6950 on the Nasdaq 100 and up to 2732 S&P 500, then a sharp, 5-wave sell-off ensued, perhaps due to Trump's negative comments on trade negotiations with China. The Nasdaq 100 dropped from 6953 to 6870, 83 points, and the S&P 500 dropped 2732 to 2711. At that point, they reversed, and the Nasdaq 100 snapped back from 6870 to 6915 and the S&P 500 went from 2711 to 2723.

Positive Session Despite Afternoon Selloff Wed May 16th 2018

The stock market had a positive session for the most part on Wednesday, although it pulled back late in the day, the indices still had a positive close.The day started with strong early run to lunch hour.Then they  pulled back and retested the highs but resistance near NDX 6943 and SPX 2727 thwarted the advance and a late selloff ensued.  A last 10 min sharp bounce firmed the indicies back up to the close Net on the day, the Dow was up 62.52 at 24,768.93.

Solid Up Day Thu May 10th 2018

The markets had a strong session on Thursday, opening with big breakaway gaps, running up all morning into early afternoon, and then in a corrective 3-wave move they came down and retested. When that failed to make lower-lows or follow-through to the downside, they went right back up to the highs. Net on the day, the Dow was up 196.99 at 24,739.53. The S&P 500 was up 25.28 at 2723.07. The Nasdaq 100 was up 70.33 at 6963.55.

Strong Session Wed May 9th 2018

The stock market indices started the day with a pop and a pullback retest on Wednesday, but the rest of the day was straight up as early support held. Only a last-hour pullback consolidation prevented a close at the highs, but it was a strong session.  Net on the day, the Dow was up 182.33 at 4,542.54. The S&P 500 was up 25.87 at 2697.79. The Nasdaq 100 was up 77.73 at 6893.21.  Advance-declines were 2 to 1 positive on the New York Stock Exchange, and 2 to 1 positive on the Nasdaq.

A Good Consolidation Type Session Tue May 8th 2018

The stock market had a  volatile session on Tuesday. The markets opened lower, then rallied back in five waves to resistance to the highs for the day on the indices, then fell back and retested the lows, snapped back to resistance, and retested again making lower-lows. A late, hour-long rally brought them back to finish mixed on the day. Net on the day, the Dow was up 2.86 at 24,360.21, 162 points off the low. The S&P 500 was down .71 at 2671.92, 17 points off its low. The Nasdaq 100 was down 6.

Positive Start to the Week Mon May 7th 2018

The stock market indices had a positive session on Monday, but most of it came early in the first few minutes when many stocks surged with strong opening gaps. By midmorning they reached their session highs, although they did make a nominal new high later in the day after dipping midday. They then sold off sharply in the last hour before a late bounce brought them back again, closing with a solid gain for the day. Net on the day, the Dow was up 94.81 at 24,357.32, 120 points off the high.

Narrowly Mixed Session Thu May 3rd 2018

The stock market had an interesting, volatile, and at the end of the day a narrowly mixed session at the close on Thursday, but in between there was a lot of action. The day started out with the indices gapping day, rallying back to resistance, plunged, making new pullback lows on the S&P 500, but the Nasdaq 100 was far from it. They then rallied the market sharply in an explosive advanced, taking the Nasdaq 100 from 6540 all the way up to 6667, 137-point run.

Negative Session, FOMC, Failure at Resistance Wed May 2nd 2018

The stock market had a difficult session on Wednesday, particularly in the afternoon after the FOMC Statement. The day started out with a pop to the upside to test resistance, and then rolled over to test support. When that held, they ran back up to nominal new highs on the Nasdaq 100 and the S&P 500, after the FOMC made a statement regarding keeping interest rates the same for now.

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