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Negative Day for Stock Market on Monday

The stock market had a very sloppy, negative day on Monday, opening to the downside, remaining red all day, and closing to the downside. Indices reached morning highs midmorning, and the days lows just as they were approaching the noon hour.

 

By Harry Boxer

The afternoon consisted of testing the lows, consolidating, forming wedges and coils, and a pop into the close. A very negative day for Wall Street.

Net on the day, the Dow (NYSEARCA:DIA) was down 142.70 at 27,076.82. The S&P 500(NYSEARCA:SPY) was down 9.43 at 2997.96. The Nasdaq 100 was down 40.54 at 7852.41.

Advance-declines were 242 issues positive on the New York Stock Exchange and 152 issues positive on the Nasdaq(NYSEARCA:QQQ). Up/down volume was 8 to 1 positive of New York, total volume 4 billion shares traded. The Nasdaq traded 2 billion and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mixed on Monday. Amazon.com, Inc. (AMZN) was down 31.50 to 1807.84, Alphabet Inc. (GOOG) down 8.26 to 1231.30, and Facebook, Inc. (FB) down nearly a dollar to 186.22.

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Tesla, Inc. (TSLA) lost 2.39 to 242.81, and NVIDIA Corporation (NVDA) dropped 1.73 to 180.21.

To the upside, point-plus gainers included Apple Inc. (AAPL) up 1.15 to 219.90, Enphase Energy, Inc. (ENPH) up 1.18 to 23.26, Toll Brothers, Inc. (TOL) 2.02 to 40.76, ACADIA Pharmaceuticals Inc. (ACAD) 3.56 to 44.01, Kirkland Lake Gold Ltd. (KL) 1.90 to 44.28, Occidental Petroleum Corporation (OXY) 2.71 to 47.80, Schlumberger Limited (SLB) 1.98 to 39.31, Concho Resources Inc. (CXO) 2.59 to 76.15, Axsome Therapeutics, Inc. (AXSM) 2.32 to 29.16, and ConocoPhillips (COP) 5.19 to 62.53.

The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) ran 5.34 to 64.05 and Direxion Daily Gold Miners Bull 3X ETF (NUGT) gained 2.12 to 30.33.

Checking TheTechTrader.com percent-gain leaderboard, New Concept Energy, Inc. (GBR) exploded 97 cents, or 62%, to 2.53, on 2.3 million shares. Ring Energy, Inc. (REI) eked out 29 cents, or 20%, to 1.76, on 3.5 million shares. Chesapeake Energy Corporation (CHK) bounced 28 cents, or 16%, to 2.06, on a whopping 255 million shares. Nabors Industries Ltd. (NBR) ran 42 cents, or 18%, to 2.72, on 19 million shares.

Valaris (VAL) snapped back 1.36, or 21%, to 7.71, on 12 million shares. Yuma Energy, Inc. (YUMA) moved up 1.93, or 58%, to 5.25, on 13.5 million shares. W&T Offshore, Inc. (WTI) ran 1.29, or 28%, to 5.93, on 8 million shares.

SemGroup Corporation (SEMG) exploded 6.22, or 60 1/2%, to 16.50, on 35 million shares. California Resources Corporation (CRC) climbed 4.49, or 38%, to 16.31, on 13 million shares.

Oil was up significantly on Monday. The Direxion Daily Energy Bull 3X Shares (ERX) gained 1.74, or 10.3%, to 18.64, on 5.9 million shares. The VelocityShares 3x Lng Crude Oil ETN New (UWT) advanced 3.92, or 34%, to 15.31, on 34 million shares. The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares (GUSH) climbed 1.27, or 32%, to 5.26, on 41 million shares.

Among other gainers, Pioneer Natural Resources Company (PXD) was up 8.81 to 144.24 and Beyond Meat, Inc. (BYND) up 2.99 to 158.97.

Let’s see what happens tomorrow.