Week Ends on Sour Note

The stock market indices had a tough finish to the week. The day started out with a rally in the morning, they got up to resistance, formed some wedges, broke down by midday, and were selling off the rest of the session into the close.

Net on the day, the Dow was down 82.04 at 18,132.38, closing ring at the lows for the day. The S&P 500 was down 6.25 at 2104.50, near the lows for the day. The Nasdaq 100 was down 21.60 at 4440.67, 5 points off its low.

Advance-declines were positive by 65 issues on the New York Stock Exchange, which is very unusual on a down day, and 17 to 10 negative on Nasdaq. Up/down volume was 18 to 15 negative on New York, with total volume of 3 1/3 billion shares. Nasdaq traded over 1.85 billion shares, and had a 11 to 7 negative volume ratio.

TheTechTrader.com board was mostly lower. Leading the way to the downside, Netflix, Inc. (NFLX) was down 8.12 to 474.91, Amazon.com Inc. (AMZN) down 4.64 to 380.16, Priceline.com Incorporated (PCLN) 3.77 to 1237.48, and Apple Inc. (AAPL) 1.95 to 128.46, not far from the low for the day.

Pharmacyclics Inc. (PCYC) lost 1.89 to 215.93, and Tesla Motors, Inc. (TSLA) gave back 3.85 to 203.34.

Cyber-Ark Software Ltd. (CYBR) was down 3.19 to 59.27, GoPro, Inc. (GPRO) down 2.68 to 41.98, Splunk, Inc. (SPLK) 2.32 to 67.25, FireEye, Inc. (FEYE) 1.14 to 44.27, Neurocrine Biosciences Inc. (NBIX) 1.00 to 39.05, and GW Pharmaceuticals (GWPH) 2.18 to 80.92.

Twitter, Inc. (TWTR) dropped 1.33 to 48.08, and Facebook, Inc. (FB) lost 1.44 to 78.97.

On the upside, Google Inc. (GOOG) was up 2.92 to 558.40.

Checking the TheTechTrader.com percent-gain leaderboard, there were some outstanding stocks, Uni-Pixel, Inc. (UNXL) exploded on short-covering, up 1.66 to 6.83, or 32%, on 1.2 million shares. Good volume for that stock. 1200% more volume than average.

Second Sight Medical Products, Inc. (EYES) had a spectacular day, jumping all the way up to 17.40, before pulling back, and closing at 16.17, up 4.37, or 37%, on 13 million shares, 1800% more volume than average, after earnings and Health Canada approval. It was a big day for EYES. Autobytel Inc. (ABTL) gained 2.51 to 12.89, or 24%, on 800% more volume than average.

Among other gainers, Monster Beverage Corporation (MNST) was up 16.38 to 141.12, DigitalGlobe, Inc. (DGI), which we traded today, up 4.80 to 33.25, and Air Methods Corp. (AIRM) up 7.32 to 52.99.

TETRA Technologies, Inc. (TTI) ran to 6.84, closing at 5.98, up 1.00.

Stepping back and reviewing the hourly chart patterns, the indices popped, backed and filled, with the S&P 500 making nominal new session highs, but the Nasdaq 100 could not confirm that, and then they rolled over. Looking at the overall patterns, there appears to be a topping, head-and-shoulder-type pattern on the S&P 500.

If they gap down on Monday, the end of this trend could be at hand.

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