Mixed Session and Mixed Picture

The stock market indices had a very marginal mixed session today as they bounced back and forth in consolidation ranges. They do appear to be toppy, so we'll have to see if they will hold support.

The day started out with a bounce at the opening followed by a sharp pullback and then rally, taking the S&P 500 to new all-time highs. The Nasdaq 100 couldn't even get to session highs. At that point, they backed and filled, coiled, and tested, before bouncing late in the day. They pulled back in the last 10 minutes to close mixed on the session.

Net on the day, the Dow was down 2.83 at 17,083.80. The S&P 500 was up .97 at 1987.98. The Nasdaq 100 was down 3.00 at 3983.19, after being down substantially earlier.

Advance-declines were 16 to 14 negative on the New York Stock Exchange, and 14 to 12 negative on Nasdaq. Up/down volume was 34 to 27 positive on New York, with total volume of just over 620 million shares. Nasdaq traded 1.85 billion shares, and had a 5 to 4 positive volume ratio.

TheTechTrader.com board was narrowly mixed today. The large-cap stocks that we follow had a terrible day. Priceline.com Incorporated (PCLN) was down 1.95 to 1236.73, Google Inc. (GOOG) down 2.63 to 593.35, and Apple Inc. (AAPL), nearly unchanged today, down 16 cents to 97.03. Netflix, Inc. (NFLX) rose 2.52 to 425.38, and Amazon.com Inc. (AMZN) was up, but only by 47 cents to 358.61.

On the upside, International Business Machines Corporation (IBM) was up 1.61 to 195.24, Pharmacyclics Inc. (PCYC) up 58 cents to 104.50, Tesla Motors, Inc. (TSLA) 1.05 to 223.54, and Vipshop Holdings Limited (VIPS) 2.86 to 213.52.

Facebook, Inc. (FB) had a monster day today, up 3.69 to 74.98, or more than 5%, on 123 million shares, but reached as high as 76.74 earlier in the day. FireEye, Inc. (FEYE) had a good day, up 1.49 to 36.96. JD.com, Inc. (JD), one of our swing trades, closed up near the highs for the day, up 1.17 to 29.05. SolarCity Corporation (SCTY) had a slow start, but by midafternoon it was headed toward the highs for the day at 73.47, but pulled back to 72.16, up 2.74. VASCO Data Security International (VDSI) ran 170 to 13.30, reaching our swing trade target.

Checking the TheTechTrader.com percent-gain leaderboard, Verso Paper Corp. (VRS), after announcing that it has amended subordinated debt exchange offer, thrust to 3.59, came way down, and then closed up 84 cents to 3.48, or 32%, on 2.7 million shares. 8x8 Inc. (EGHT) rose 88 cents to 8.47, or 12%, on 4.3 million shares, and reached as high as 8.83, or 16%, after the cloud-based contact center specialist announced inline fiscal first-quarter 2015 results.

Trulia, Inc. (TRLA) shares went through the roof on Zillow merger talk, up 13.16 to 53.74, or 33%, on 11.4 million shares. Zillow, Inc. (Z) jumped 19.29 to 145.76, or 15%, on 7.77 million shares. Logitech International SA (LOGI) played it nice a safe today, opening at 15.18, reaching today's high at 15.92 before 10 AM, dipped slightly, and then had a smooth ride the rest of the day, up 1.95, or 15.28, or 15%, on 3.6 million shares.

Under Armour, Inc. (UA), known for sports apparel, was up 8.92 to 69.55, or 15%, on 12.5 million shares, when it beat second-quarter earnings estimates by 6 cents, and received a cheer from investors after saying that it was encouraged by growth in its shoe sales.

Among other gainers, Ruckus Wireless, Inc. (RKUS) was up 1.04 to 12.39, Carter's, Inc. (CRI) up 5.78 to 78.96, Skechers USA Inc. (SKX) 3.89 to 52.30, and Fortinet Inc. (FTNT) 1.92 to 25.95.

Stepping back and reviewing the hourly chart patterns, the indices opened with a pop to the upside, pulled back sharply, and then backed and filled the rest of the day, holding support and resistance. It looked like a consolidation day, or perhaps a topping process.

We'll see where a follow-through gets us.

Good Trading!