Closing Boxer Brief
Nightly technical market analysis by Harry Boxer that reviews the session's key movers and highlights technical levels to watch.
Choppy Session Ends Higher
The stock market indices ended higher on the session after a choppy day, but the morning was a strong follow-through to yesterday’s late snapback. The indices opened firm, ran strongly with the S&P 500 reaching its session highs around 90 minutes into the session. At that point they backed of very sharply, and the SPX gave back nearly all of its gains and Nasdaq 100 about two-thirds of its gains.
Late Snapback Keeps Rally Going
The stock market indices ended up on the day after a late snapback rally brought them back from a sharp afternoon sell-off. The day started out, however, with a bit of a dip lower, and then immediately reversed and rallied strongly. The Nasdaq 100 rallied from 1886 to 1911, and the S&P 500 from 1135 to 1145.
Indices Vacillate in Narrowly Mixed Session
The stock market indices were choppy all session and ended mixed, not far from the zero line. The day started out with a move up, and then they vacillated, making five or six moves back and forth in the morning. By mid-day they were able to reach new highs on the Nasdaq 100; however, at that point the S&P 500 did not confirm, then a 5-wave decline ensued, the last wave being the sharpest.
Strong Close in Great Week for the Bulls
The stock market indices closed the week on a very strong note as opening gaps, and big ones, blew the indices right out of their 3-day consolidations. A strong follow up rally ensued as the indices spiked sharply higher in the morning. They then consolidated in stair-step fashion moving higher on the Nasdaq 100, though sideways on the S&P 500, but late in the session the SPX thrust and played catch-up, actually outdoing the NDX with highs near 1890 NDX and 1139 SPX.
Indices Close Near Flat as Afternoon Sell-Off Reverses Morning Gains
The stock market indices ended narrowly mixed today after a strong morning reversed and a strong sell-off in the afternoon brought them back to near the zero line. The day started with a gap up. They backed and filled early on and then made their sessions highs late morning, with the S&P 500 making a nominal new rally high just under the 1126.
