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26 Feb 2015
US Indices give up early gains – TechnicalTrader
FXStreet (Barcelona) - Harry Boxer of The Technical Trader, summarizes the performance of Nasad, S&P 500 and Dow, noting that after registering early gains, the indices gave up gains, holding above the secondary support to close mixed.
Key Quotes
“The stock market indices had a rough session, but in the morning they certainly looked like they were going to go ballistic. They continued to rally in stair-step fashion, taking out a triple-top on Nasdaq 100, reaching 4461, and change, and then rolling over sharply in the afternoon, going from 4461 down to 4430.”
“A bounce late in the session brought them back to a point in which the indices closed mixed on the day. Not to be fooled, that drop was a drastic one, and only secondary support managed to hold.”
“If they gap down or crack support tomorrow it could get ugly for the next few days.”
“Net on the day, the Dow was up 15.38 at 18,224.57. The S&P 500 was down 1.62 at 2113.86, 6 points of the high. The Nasdaq 100 was down 10.44 at 4440.59, 21 points from the high as well, completely reversing early gains.”
“Advance-declines were 17 to 14 positive on the New York Stock Exchange, and 7 to 6 positive on Nasdaq. Up/down volume was 17 to 15 positive on New York, with total volume of 3 1/3 billion shares. Nasdaq traded over 1.8 billion shares, and had a 5 to 4 positive volume ratio.”
Key Quotes
“The stock market indices had a rough session, but in the morning they certainly looked like they were going to go ballistic. They continued to rally in stair-step fashion, taking out a triple-top on Nasdaq 100, reaching 4461, and change, and then rolling over sharply in the afternoon, going from 4461 down to 4430.”
“A bounce late in the session brought them back to a point in which the indices closed mixed on the day. Not to be fooled, that drop was a drastic one, and only secondary support managed to hold.”
“If they gap down or crack support tomorrow it could get ugly for the next few days.”
“Net on the day, the Dow was up 15.38 at 18,224.57. The S&P 500 was down 1.62 at 2113.86, 6 points of the high. The Nasdaq 100 was down 10.44 at 4440.59, 21 points from the high as well, completely reversing early gains.”
“Advance-declines were 17 to 14 positive on the New York Stock Exchange, and 7 to 6 positive on Nasdaq. Up/down volume was 17 to 15 positive on New York, with total volume of 3 1/3 billion shares. Nasdaq traded over 1.8 billion shares, and had a 5 to 4 positive volume ratio.”