NFLX has Negative Impact on Nasdaq

The stock market indices had a very intriguing day today with the Nasdaq 100 under pressure from Netflix, Inc. (NFLX) dropping 14 points on bad earnings. The day started out with a surge to the upside on the Nasdaq 100, and then it came down hard, while the S&P 500 actually rallied. They both rolled over midday, reaching their session lows around noon, rallied in the afternoon, pulled back midafternoon, tried to get through the highs, but was unsuccessful, and backed off just a little bit to close mixed on the day.

Net on the day, the Dow was up 49.44 at 18,053.60, the S&P 500 up 6.46 at 2100.80, but the Nasdaq 100 was down 32.23 at 4537.09.

Technicals were vastly different on both exchanges. Advance-declines were 2121 up and 895 down on the New York Stock Exchange, while the Nasdaq was 15 to 13. Up/down volume was 4 to 1 positive on New York, total volume of 3.8 billion shares traded. The Nasdaq traded 1.8 billion shares and had a 5 to 4 negative volume ratio.

TheTechTrader.com board was mixed, but Nasdaq generals did not fare so well today. Priceline Inc. (PCLN) was down 7.59 to 1345.78, Google Inc. (GOOG) down 12.68 to 753.93, Apple Inc. (AAPL) down just .57 to 105.91, Amazon.com Inc. (AMZN) 7.45 to 627.90, and Netflix, Inc. (NFLX) 14.06 to 94.34.

Baidu, Inc. (BIDU), however, gained 1.58 to 194.42, Facebook, Inc. (FB) popped 1.84 to 112.29, and First Solar, Inc. (FSLR) advanced 16 cents to 60.52.

Tesla Motors, Inc. (TSLA) lost 6.51 to 247.37.

Other losers of note included Juno Therapeutics Inc. (JUNO), down 1.28 to 43.18, NewLink Genetics Corporation (NLNK) down 1.27 to 17.88, and Intrexon Corporation (XON) 1.23 to 35.76.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) gave back 2.08 to 34.66.

On the upside, oil’s were very strong. Targa Resources Corp. (TRGP), a swing trade of ours, climbed 3.72 to 37.21. TimkenSteel Corporation (TMST) gained 1.94 to 1266 as metals were also strong today.

Checking the TheTechTrader.com percent-gain leaderboard, Endeavour Silver Corp. (EXK) led the way, up 75 cents to 3.82, or 25%, on 5 million shares. Repros Therapeutics Inc. (RPRX) zigged-zagged up and down all day, finally closed up 34 cents to 3.13, or 12%, on 17.8 million shares.

First Majestic Silver Corp. (AG) popped 1.35 to 9.97, or 16%, on 8.2 million shares. Century Aluminum Co. (CENX), one of our swing trades, ran to 8.78 before pulling back and closing up 1.06 to 8.48, or 14%, on 3 million shares.

Tile Shop Holdings, Inc. (TTS) bounced around a little, jumping 1.96 to 17.91, or 12%, on 2.7 million shares on earnings.

Gold’s were strong today. The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) ran a whopping 24.92 to 137.92, or 22%, on 765,244 shares traded, tagging 140.00 at one point. The Direxion Daily Gold Miners Bull 3X ETF (NUGT) bounced 11.21 to 89.21, or 14%, on 8.2 million shares.

The VelocityShares 3x Long Natural Gas ETN (UGAZ), which we traded today, rose 4.91 to 28.16, or 21%, on 7.6 million shares.

The VelocityShares 3x Long Silver ETN (USLV) had little volatility as it gained 1.99 to 16.74, or 13 1/2%, on 1.9 million shares.

Among other gainers, Silver Wheaton Corp. (SLW) had a nice little pop, up 1.56 to 18.49, Pan American Silver Corp. (PAAS) up 1.24 to 14.07.

As you can see, silver, gold, and metals had a big day today.

Stepping back and reviewing the hourly chart patterns, the indices had a sharp, 3-wave move down to midday, and then a 3-wave corrective move back up at the end of the day to move into the positive column on the blue chips, but it was quite negative on the NDX today, down 32 points.

Let’s see what happens tomorrow.

Good Trading!