Harry Boxer
The Technical Trader
The stock market indices had a very strong session, until the last hour when they sold off, really cutting back the profits. Nevertheless, it was a good day.
The day started out with a gap down, they reversed, formed wedges all morning, popped late in the morning, ran into the late hours with an hour to close, the Nasdaq 100 reaching 4496.08, and the S&P 500 2120.49, and then they reversed, closing substantially off the highs.
Net on the day, the Dow was up 20.89 at 18,058.69, 75 points off the high. The S&P 500 was up 4.97 at 2112.93, 8 points off its high. The Nasdaq 100 was up 16.25 at 4477.07, 19 points off its high.
Advance-declines still managed to be more than 2 to 1 positive on New York Stock Exchange and 3 to 2 positive on Nasdaq. Up/down volume was 5 to 3 positive on New York, with a solid 3.6 billion shares traded. Nasdaq traded 1.8 billion shares, and had a 4 to 3 positive volume ratio.
TheTechTrader.com board was mixed, but mostly higher today. Priceline.com Incorporated (PCLN) was up 8.20 to1221.10, Google Inc. (GOOG) up 7.64 to 546.00, Apple Inc. (AAPL) up 1.05 to 129.67, Amazon.com Inc. (AMZN) on 19 cents to 389.99, and Netflix, Inc. (NFLX) 1.38 to 559.06.
Advaxis, Inc. (ADXS), a swing trade and favorite of ours, ran 1.43 to 23.61.
Cyber-security stocks did well today. Splunk, Inc. (SPLK) was up 1.89 to 67.81, and Cyber-Ark Software Ltd. (CYBR) up 1.09 to 66.62.
There were many other gainers today as well.
On the downside, the only stocks down more than a point on our board today were Facebook, Inc. (FB) down 2.22 to 82.41, with a 3-point reversal off the high, and Ambarella, Inc. (AMBA) down 1.12 to 73.45.
Checking the TheTechTrader.com percent-gain leaderboard, China Auto Logistic Inc. (CALI) bounced to 2.48 before pulling back to 2.33, up 95 cents, or 69%, on 4 million shares. One of our current favorites, Solar3D, Inc. (SLTD), closed at the high for the day, up 58 cents to 4.40, or 15%, on 1.2 million shares., 4 times more volume than average.
SCYNEXIS, Inc. (SCYX) closed at the highs today, up 2.29 to 9.99, or 30%, on 1.2 million shares, 10,000% more volume than average. Sphere 3D Corp. (ANY), on a deal with Microsoft, thrust 94 cents to 4.27, or 28%, on 2.5 million shares.
Arris Enterprises, Inc. (ARRS), on an acquisition, gained 6.76 to 37.30, or 22%, on 18.5 million shares, and closed just 20 cents off the 14-year high. Adeptus Health Inc. (ADPT), on earnings, ran 9.50 to 61.65, or 18$%. Skechers USA Inc. (SKX), which we traded today, exploded 11.03 to 86.87, or 15%, on 5.6 million shares. CoreLogic, Inc. (CLGX) climbed 3.61 to 39.22, or 10%, on 1.2 million shares.
Among other gainers, Esperion Therapeutics, Inc. (ESPR) up 8.36 to 108.89, and Dunkin' Brands Group, Inc. (DNKN) up 3.79 to 51.51, rounded out the gainers today.
Stepping back and reviewing the hourly chart patterns, the indices gapped down, and then ran up all day, until the last hour when they sold off again.
Let's see what happens tomorrow.
Good Trading!
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