Harry Boxer
The Technical Trader
The stock market indices had a very narrowly mixed session. They were up in the morning, down in the afternoon, and pretty much closed flat. Basically, it was a non-eventful day, although they did make new rally highs in the morning. After a morning dip, the market had a 5-wave rally to midday, reaching 4576 Nasdaq 100, and 2088 S&P 500. They then came down, bounced, backed off into the close and closed narrowly flat.
Net on the day, the Dow was up 18.15 at 17,926.43. The S&P 500 was up .36 to 2082.78. The Nasdaq 100 was down .10 to 4554.63.
Advance-declines were 16 to 13 negative on the New York Stock Exchange, and about 40 issues negative on the Nasdaq. Up/down volume was 20 to 17 negative on New York, total volume of 3.7 billion shares traded. Nasdaq traded 1.9 million shares and had an 8 to 7 negative volume ratio.
TheTechTrader.com board was also narrowly mixed. Priceline.com (PCLN) was up 18.63 to 1336.39, Google Inc. (GOOG) up 1.48 to 753.20, Apple Inc. (AAPL) up just .06 to 112.10, Amazon.com Inc. (AMZN) 5.93 to 620.75, and Netflix, Inc. (NFLX) up .77 to 110.42.
Baidu ran 1.74 to 195.72, Facebook, Inc. (FB) snapped back 33 cents to 110.84, but First Solar, Inc. (FSLR) fell 1.23 to 60.42.
Tesla Motors, Inc. (TSLA) was the only stock down more than a point on our board today, down 2.67 to 251.86.
Intrexon Corporation (XON) had a terrific day, up 2.31 to 38.00, closing near the session high. Stratasys Ltd. (SSYS), a swing trade of ours, gained 1.64 to 29.35. Editas Medicine Inc. (EDIT) popped 1.54 to 39.73. 3D Systems Corporation (DDD) ran to 19.76, before pulling back and closing up 1.68 to 18.28 on upgrades.
Checking the TheTechTrader.com percent-gain leaderboard, Repros Therapeutics Inc. (RPRX) advanced 42 cents to 2.67, or 19%, on 67.7 million shares traded, and reach as high as 3.48 earlier in the day. Organovo Holdings, Inc. (ONVO) thrust 41 cents to 2.91, or 16.4%, on 3.9 million shares. RadiSys Corporation (RSYS) gradually made its way up 41 cents to 4.57, or 10%.
DragonWave Inc. (DRWI) advanced 1.42 to 7.38, or 24%, on 2.2 million shares traded.
Trupanion, Inc. (TRUP) bounced around and closed up 1.01 to 11.71, or 10%.
The VelocityShares 3x Inv Natural Gas ETN (DGAZ) jumped 1.44 to 19.09.
Stepping back and reviewing the hourly chart patterns, the indices had a 5-wave move up in the morning,a 3-wave corrective move in the afternoon, they bounced in the last hour, but then pulled back in the last 15 minute to close very narrowly mixed on the day. We have to see if that’s a consolidation or meaningful in terms of their position.
Let’s see what happens tomorrow.
Good Trading!
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