Very Topsy-Turvy Day

The stock market indices had a very topsy-turvy session. The day started out with a gap up, the Nasdaq 100 reaching 4300, and the S&P 500 reached a high of 1975 at key, overhead resistance. When they were unable to push any further, they pulled back, accelerating in a distinct down channel all day, taking the NDX from 4300 to 4222, and the S&P 500 from 1975 to 1945. At that point, they had a late rally, and only in the last five minutes did they back off. Once again, it was a mixed close.

Net on the day, the Dow was up 23.38 at 16,374.76, 170 points off the high, The S&P 500 was up 2.27 to 1951.13, 24 points off its high. The Nasdaq 100 was down 21.58 to 4234.65, 66 points off its high.

Advance-declines managed to hold onto 2 to 1 positive on New York Stock Exchange, and edged by 64 points on Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York, with total volume of a strong 3.5 billion shares. Nasdaq traded a little over 1.75 billion shares, and 9 1/2 to 8 positive volume ratio.

TheTechTrader.com board was multi-red all day. I'm looking at a board that was just slightly green. The only green stock on our board was SunEdison, Inc. (SUNE), up for the seventh consecutive day, gaining 1.15 to 11.94, or 10%, on 50 million shares.

On the downside, Priceline was down 2.50 to 1240.37, Google Inc. (GOOG) down 8.09 to 606.25, Apple Inc. (AAPL) down 1.97 to 110.37, Amazon.com Inc. (AMZN) 5.83 to 504.72, Netflix, Inc. (NFLX) 4.38 to 101.06.

Tesla Motors, Inc. (TSLA) dropped 2.12 to 245.57.

CyberArk Software, Ltd. (CYBR) was down 2.40 to 48.59, Esperion Therapeutics, Inc. (ESPR) down 3.71 to 45.28, Facebook, Inc. (FB) 1.74 to 88.15, GoPro, Inc. (GPRO) 2.63 to 38.65, Juno Therapeutics Inc. (JUNO) 1.21 to 34.89, Mobileye N.V. (MBLY) 2.76 to 52.09.

Sucampo Pharmaceuticals, Inc. (SCMP) whacked for 3.05 to 24.01, and Radius Health, Inc. (RDUS) fell 1.88 to 62.50.

Trevena, Inc. (TRVN), another biotech, was down 1.55 to 9.89, a very negative reversal.

Checking the TheTechTrader.com percent-gain leaderboard, little SeaChange International, Inc. (SEAC) popped 57 cents to 6.41, or 10%. Geron Corporation (GERN) advanced 40 cents to 3.45, or 13%, on 18 million shares.

Voltari Corporation (VLTC) made its way up 1.52 to 7.79, or 24%, on 2.5 million shares.

Methode Electronics, Inc. (MEI), on strong earnings, gained 5.43 to 32.82, 10%, on 4.4 million shares. Lannett Company, Inc. (LCI), on a major acquisition of a consumer group, jumped 6.33 to 55.81, or 13%, on 5.4 million shares. Diodes Incorporated (DIOD) closed up 2.23 to 21.81, or 11%, after acquiring Pericom. B&G Foods Inc. (BGS) bounced 3.55 to 34.00, or 11%, on 3.2 million shares.

Stepping back and reviewing the hourly chart patterns, the indices gapped up and ran up in the morning to clear overhead resistance, failed at those levels, and then came down all day to closed mixed on the session, giving back big strong gains from the morning.

Let's see how it goes tomorrow. Good Trading!

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