30 Apr 2015
US equity indices see a volatile FOMC session – TechTrader
FXStreet (Barcelona) - Harry Boxer of TheTechTrader, summarizes the performance of US equity Indices in the NA trading session, noting that the FOMC resulted in the indexes declining initially only to rebound later covering some of the losses and ending the day negative.
Key Quotes
“It was a volatile day on Wall Street today. FOMC spoke, but before that the indices opened lower, rallied back to resistance, failed, rolled over in a 5-wave decline, and by midday were oversold enough for me to issue a really note.”
“They did rally, and rallied from 4465 to 4508 Nasdaq 100, 43 points, and the S&P 500 rallied from 2097 to 2013, 16 points, as they pulled back in a 3-wave corrective pullback at the end of the day looking like wedges. They did close lower on the day, because the rally did not take back the entire losses.”
“Net on the day, the Dow was down 78.61 at 18,035.53, managing to hold on to 18,000, after dropping about 50 points below it. The S&P 500 was down 7.91 at 2106.85, 7 points off the high. The Nasdaq 100 was down 27.11 at 4488.15, 25 points off the low.”
“Advance-declines were 2 to 1 negative on New York Stock Exchange, and more than 2 to 1 negative on Nasdaq. Up/down volume was 22 to 18 negative on New York, with total volume of 4 billion shares. Nasdaq traded 1.8 billion shares, and had a to 2 to 1 negative volume ratio.”
Key Quotes
“It was a volatile day on Wall Street today. FOMC spoke, but before that the indices opened lower, rallied back to resistance, failed, rolled over in a 5-wave decline, and by midday were oversold enough for me to issue a really note.”
“They did rally, and rallied from 4465 to 4508 Nasdaq 100, 43 points, and the S&P 500 rallied from 2097 to 2013, 16 points, as they pulled back in a 3-wave corrective pullback at the end of the day looking like wedges. They did close lower on the day, because the rally did not take back the entire losses.”
“Net on the day, the Dow was down 78.61 at 18,035.53, managing to hold on to 18,000, after dropping about 50 points below it. The S&P 500 was down 7.91 at 2106.85, 7 points off the high. The Nasdaq 100 was down 27.11 at 4488.15, 25 points off the low.”
“Advance-declines were 2 to 1 negative on New York Stock Exchange, and more than 2 to 1 negative on Nasdaq. Up/down volume was 22 to 18 negative on New York, with total volume of 4 billion shares. Nasdaq traded 1.8 billion shares, and had a to 2 to 1 negative volume ratio.”