Harry Boxer
The Technical Trader
The stock market indices had a very mixed, volatile session. They gapped up early, ran up to overhead resistance, and got through on the S&P 500 but not on the Nasdaq 100. Then they rolled over in a sharp, 3-wave decline to test secondary support and key support, but held near 4434 on the Nasdaq 100 and 2094 on the S&P 500. In the afternoon they rallied back and took back between two-thirds and three-quarters of the decline, and vacillated in the last hour or two to consolidate.
Net on the day, the Dow was up 38.82 at 18,135.72. The S&P 500 was up 2.51 at 2101.04. The Nasdaq 100 was down 6.70 at 4452.06.
Advance-declines were 16 to 13 positive on the New York Stock Exchange, and 15 to 11 positive on Nasdaq. Up/down volume was near flat, slightly negative on New York, with total volume of 3 billion shares. Nasdaq traded over 1.8 billion shares, and had a 3 to 2 positive volume ratio.
TheTechTrader.com board mixed but mostly higher. Priceline.com Incorporated (PCLN) was up 6.23 to 1231.90, Google Inc. (GOOG) up 1.96 to 575.33, and Amazon.com Inc. (AMZN) up 5.11 to 387.83. Apple Inc. (AAPL), however, dropped 2.13 to 126.41, and Netflix, Inc. (NFLX) lost 2.12 to 467.65.
Pharmacyclics Inc. (PCYC) exploded 23.74 to 254.22, and Vipshop Holdings Limited (VIPS) gained 65 cents to 25.14, but Tesla Motors, Inc. (TSLA) gave back 1.80 to 200.63.
The solar sector had a good day today. Canadian Solar Inc. (CSIQ) was a big star, up 4.42 to 34.60, on 11 million shares. JinkoSolar Holding Co. (JKS) rose 1.65 to 24.30, and SolarCity Corporation (SCTY) popped 1.72 to 51.77.
Cyber-Ark Software Ltd. (CYBR) was up 3.56 to 62.87, and Regulus Therapeutics Inc. (RGLS), one of our swing trades, up 2.59 to 21.13.
On the downside, Ambarella, Inc. (AMBA) lost 3.10 to 64.39, and Amedisys Inc. (AMED) dropped 1.08 to 28.35.
Checking the TheTechTrader.com percent-gain leaderboard, Geron Corporation (GERN) climbed 97 cents to 3.78 to 3.78, or 33%, on 26 million shares.
CorMedix, Inc. (CRMD), was a standout today, up 1.60 to 7.75, or 26%, on 2.5 million shares.
Vivint Solar, Inc. (VSLR), a recent IPO, snapped back 2.82 to 11.35, or 33%, on 9 million shares, 1000% more volume than average. Pacific Ethanol, Inc. (PEIX), on strong earnings, gained 2.42 to 11.75, or 26%, on 10 million shares. Kythera Biopharmaceuticals, Inc. (KYTH) climbed 10.10 to 50.00, or 25%, on 3.4 million shares. Golar LNG Ltd. (GLNG), which we traded, added 4.84 to 34.36, or 16%, on 4.2 million shares.
Second Sight Medical Products, Inc. (EYES), which exploded overnight, ran as high as 19.63, before pulling back to 17.07, up 2.16, or 15%, on 12.8 million shares, 1200% more volume than average. 500.com Limited (WBAI) ran 1.64 to 13.80, or 14%, on 3.6 million shares. ReWalk Robotics Ltd. (RWLK) advanced 2.15 to 18.05, and was among many other gainers today.
Among other gainers, Celladon Corporation (CLDN) popped 1.82 to 21.46, Autohome Inc. (ATHM) climbed 4.22 to 46.83, and MOBILEYE N.V. (MBLY) ran all the way up to 38.10, before pulling back to 37.02, up 2.21.
Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, down sharply midday, only to come back in the afternoon to close positive on the session.
Let's see what happens tomorrow.
Good Trading!
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