Harry Boxer
The Technical Trader
It was definitely turnaround Tuesday today as the markets got whacked. The indices opened with big gaps to the downside, forming coils all session long, only to break down in the last hour and get whacked into the close.
Net on the day, the Dow was down 200.19 at 17776.12. The S&P 500 was down 18.35 at 2067.89. The Nasdaq 100 was down 49.13 at 4333.69.
Tesla Motors, Inc. (TSLA) lost 1.80 to 188l77.
Advance-declines were still 3 to 2 negative on the New York Stock Exchange, and 8 to 5 negative on Nasdaq. Up/down volume was a little less than 2 to 1 positive on New York, with total volume of 31/4 billion shares. Nasdaq traded close to 2 3/4 billion shares, and had a 2 1/2 to 1 positive volume ratio.
TheTechTrader.com board was led to the upside by Priceline.com Incorporated (PCLN), up 14.32 to 1164.15, 12 points off the high. That stock prevented Nasdaq 100 from worse levels.
Google Inc. (GOOG) was down 4.03 to 548.00, Apple Inc. (AAPL) down 1.94 to 124.43, Amazon.com Inc. (AMZN) down 2.49 to 372T10, and Netflix, Inc. (NFLX) 5.88 to 416.69.
NewLink Genetics Corporation (NLNK) got hit for 1.69 to 54.71. NXP Semiconductors NV (NXPI) dropped 2.07 to 100.36, Bristol-Myers Squibb Company (BMY) 1.26 to 64.50.
To the upside, there were some gainers. Arista Networks, Inc. (ANET) climbed 2.01 to 70.53. Ambarella, Inc. (AMBA) ran 1.10 to 75.71. Advaxis, Inc. (ADXS), a really nice swing trade for us, advanced 1.00 to 14.44, on 20 million shares. That big volume for that stock.
Checking the TheTechTrader.com percent-gain leaderboard, Great Basin Scientific, Inc. (GBSN) bounced 1.46 to 3.90, or 60%, on 9.2 million shares. ChinaCache International Holdings Ltd. (CCIH) climbed 1.95 to 11.87, or 20%.
E-Commerce China Dangdang Inc. (DANG), also a Chinease retail store online, gained 1.17 to 9.55, or 14%, on 4.9 million shares. Cambrex Corporation. (CBM) jumped 4.04 to 39.63, or 11%, on 1.6 million shares.
Among other gainers, Movado Group, Inc. (MOV) was up 2.89 to 28.53, 2U, Inc. (TWOU) up 1.63 to 25.58, CBRE Group, Inc. (CBG) up 2.30 to 38.71, Conns Inc. (CONN) 1.61 to 30.28, Spark Therapeutics, Inc. (ONCE) 3.37 to 77.50, GW 2.Pharmaceuticals (GWPH) 2.73 to 91.13
The ProShares UltraShort DJ-UBS Crude Oil (SCO) had a lot of peaks and valleys today, but ended the day in the plus column, up 3.68 to 87.14.
Stepping back and reviewing the hourly chart patterns, the indices gapped down, ran up in intraday rising wedges, retested the lows, but bounced, formed bear flags, and at the end of the day they broke down hard in the last hour, and bounced near support, but feebly closed.
It was a big negative day on Wall Street.
Let's see what happens tomorrow.
Good Trading!
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