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13 May 2015
US Indices close in red, but way off the lows - TechTrader
FXStreet (Barcelona) - Harry Boxer of TheTechTrader, summarizes the intraday performance of US Indices noting that the indices gapped down sharply, rallied back and took back all of the losses, but then couldn't sustain, and pared back into the close to finish down on the day.
Key Quotes
“The stock market indices had a very rough start as the futures were down sharply. They gapped lower in the first 15-20 minutes, and were at the lows for the day, sharply lower. Over the next half of the session they rallied all the way back to fill the gaps and worked their way to zero. However, they weren't able to break through after filling the gaps, reaching those levels twice.”
“Another afternoon attempt failed near 2440 Nasdaq 100 and 2105 S&P 500. When that occurred, they drifted lower, pulling back about 20 points on the Nasdaq 100 and 5 on the S&P 500 in the last hour or so. They did close lower, but it was a relief to see them way off the lows, and make higher lows on both indices.”
“Net on the day, the Dow was down 36.94 at 18,068.23, 90 points off its low. The S&P 500 was down 6.21 at 2099.12, 14 points off the low. The Nasdaq 100 was down 17.99 at 4420.65, 45 points off its low.”
“Advance-declines were 17 to 14 negative on New York Stock Exchange and 15 to 12 negative on Nasdaq. Up/down volume was 17 to 13 negative on New York, with total volume of over 3 billion shares. Nasdaq traded 1 2/3 billion shares, and had a 5 to 3 negative volume ratio.”
Key Quotes
“The stock market indices had a very rough start as the futures were down sharply. They gapped lower in the first 15-20 minutes, and were at the lows for the day, sharply lower. Over the next half of the session they rallied all the way back to fill the gaps and worked their way to zero. However, they weren't able to break through after filling the gaps, reaching those levels twice.”
“Another afternoon attempt failed near 2440 Nasdaq 100 and 2105 S&P 500. When that occurred, they drifted lower, pulling back about 20 points on the Nasdaq 100 and 5 on the S&P 500 in the last hour or so. They did close lower, but it was a relief to see them way off the lows, and make higher lows on both indices.”
“Net on the day, the Dow was down 36.94 at 18,068.23, 90 points off its low. The S&P 500 was down 6.21 at 2099.12, 14 points off the low. The Nasdaq 100 was down 17.99 at 4420.65, 45 points off its low.”
“Advance-declines were 17 to 14 negative on New York Stock Exchange and 15 to 12 negative on Nasdaq. Up/down volume was 17 to 13 negative on New York, with total volume of over 3 billion shares. Nasdaq traded 1 2/3 billion shares, and had a 5 to 3 negative volume ratio.”