Harry Boxer
The Technical Trader
The stock market indices started the week off on a negative note. They had a strong drop early on, but held mid-morning, and then rallied strongly to retest the highs on the Nasdaq 100, but not so on the S&P 500, which back and filled into the close, closing negative on the session.
Net on the day, the Dow was down 48.45 at 17,051.73. The S&P 500 was down 4.59 at 1973.63. The Nasdaq 100 was down 5.76 at 3934.14.
Advance-declines were 19 to 11 negative on the New York Stock Exchange, and 3 to 2 negative on Nasdaq. Up/down volume was 16 to 10 negative on New York, with total volume was a light 530 million shares. Nasdaq traded just over 1.5 billion shares, and had a 79 to 74 positive volume ratio.
TheTechTrader.com was mixed today. Priceline.com Incorporated (PCLN) was up 3.14 to 1215.92, Amazon.com Inc. (AMZN) up 1.10 to 359.76, and Netflix, Inc. (NFLX) 7.78 to 451.95, and higher in after hours on earnings.
Pharmacyclics Inc. (PCYC) was up only 76 cents to 95.55, Tesla Motors, Inc. (TSLA) nearly flat, up 52 cents to 220.54, and Vipshop Holdings Limited (VIPS) up 5.59 to 204.20.
Twitter, Inc. was up 1.00 to 38.05, Facebook, Inc. (FB) up nearly a dollar, 98 cents to 69.40, SolarCity Corporation (SCTY) 2.15 to 68.87, and InterMune Inc. (ITMN) l.61 to 43.31.
On the downside, Google Inc. (GOOG) was down 5.61 to 589.46, Apple Inc. (AAPL) down 49 cents to 93.94, and International Business Machines Corporation (IBM) down 1.65 to 190.85.
Checking the TheTechTrader.com percent-gain leaderboard, Extreme Networks Inc. (EXTR) shares surge after a preliminary earnings top forecast, up 69 cents to 5.06, or 16%, on 9.8 million shares. Plug Power Inc. (PLUG) had a big day, up 66 cents to 5.69, or 13%, on 57 million shares.
Euro Tech Holdings Company (CLWT) led the way today, up 1.09 to 5.22, or 26%, on 1.2 million shares a type approval certificate from China's Classification Society for its 300 Cubic Meters per hour Ballast Water Treatment System.
Enphase Energy, Inc. (ENPH) jumped 1.66 to 11.36, or 17%, on 1.4 million shares. Steel Dynamics Inc. (STLD) ran 2.17 to 20.75, or 12%, on 19 million shares.
Among other gainers, Kandi Technolgies Group, Inc. (KNDI) was up 1.98 to 21.60, Tuniu Corporation (TOUR) up 1.41 to 18.33, Nimble Storage, Inc. (NMBL) 1.69 to 26.17, Anacor Pharmaceuticals, Inc. (ANAC) 1.07 to 16.91, 58.com Inc. (WUBA) 1.90 to 50.18, Baidu, Inc. (BIDU) 6.55 to 197.72, and GW Pharmaceuticals (GWPH) 3.07 to 86.61.
Stepping back and reviewing the hourly chart patterns, the indices were down in a 5-step decline early, they moved back up in a 3-wave rally, could not get through the resistance high, and backed off into the close, closing down on the day.
Let's see what happens tomorrow.
Good Trading!
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