Harry Boxer
The Technical Trader
It was a volatile day on Wall Street today as the markets finished their third quarter. There was a lot of swinging back and forth. The indices opened up at the get-go, immediately sold off to support, held, and then rallied very strongly. When the rally rolled over midday, they rolled over hard, took back all of the gains, and then some on the S&P 500, but did not quite confirm on the NDX, which caused a late afternoon bounce, although they did pull back into the close again, and ended mixed on the day.
Net on the day, the Dow was down 28.32 at 17,042.90, 25 points off the low, and not far off the high. The S&P 500 was down 5.51 at 1972.29, 4 points off the low and 13 points off the high. The Nasdaq 100 was up 2.27 at 4049.44, 18 points off the low and 21 points off the high.
Advance-declines were better than 3 to 2 negative, with 1950 down and only 1143 up on the New York Stock Exchange, and 1863 to 815 on Nasdaq. Up/down volume was 2 1/2 to 1 negative on New York, with total volume of 3.9 billion shares. Nasdaq traded 2.2 billion shares, and had a 13 to 8 1/2 negative volume ratio.
TheTechTrader.com board was very mixed. Priceline.com Incorporated (PCLN) was down 2.47 to 1158.58, but Google Inc. (GOOG) was up 1.00 to 577.36, and even though they were nearly flat, Apple Inc. (AAPL) was up 64 cents to 100.75, Amazon.com Inc. (AMZN) up 62 cents to 322.44, and Netflix, Inc. (NFLX) up 1.62 to 451.18.
Pharmacyclics Inc. (PCYC) dropped 3.11 to 117.43, Tesla Motors, Inc. (TSLA), also down, 2.58 to 242.68, and Vipshop Holdings Limited (VIPS) had a major drop of 6.95 to 189.01.
ReWalk Robotics Ltd. (RWLK) jumped 1.05 to 34.15, up another 2.76 to 93.70, reaching as high as 96.46.
Other stocks on the downside, Arista Networks, Inc. (ANET), which got up to 94.84, lost 4.98 to 88.33, and MOBILEYE N.V. (MBLY) gave back 1.16 to 53.59.
Canadian Solar Inc. (CSIQ), in a weak solar sector, gave back 1.44 to 35.77, First Solar, Inc. (FSLR) down 1.71 to 65.81, JinkoSolar Holding Co. 1.68 to 27.49, SunPower Corporation (SPWR) 1.75 to 33.88, and Trina Solar Limited (TSL) 1.13 to 12.07. So a bad day for the solar sector.
Checking the TheTechTrader.com percent-gain leaderboard, leading the way was Spherix Incorporated (SPEX), up 62 cents to 1.56, or 66%, on 13.4 million shares.
Cyber-Ark Software Ltd. (CYBR) ran 4.62 to 32.01, or 17%, on 6.4 million shares.
Among other gainers, Straight Path Communications Inc. (STRP) was up 1.51 to 15.75, Century Aluminum Co. (CENX) up 2.11 to 25.97, ProQR Therapeutics N.V. (PRQR) 1.31 to 17.19, eBay Inc. (EBAY), on talks of a split of the company, spinning of paypal, 3.97 to 57.63, AMAG Pharmaceuticals, Inc. (AMAG) 2.19 to 31.91, Mellanox Technologies, Ltd. (MLNX) 2.29 to 44.87, and Daqo New Energy Corp. (DQ) 2.91 to 42.81.
The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) gained 1.49 to 17.63.
Stepping back and reviewing the hourly chart patterns, the indices were down early, up late morning, back down again sharply in the afternoon, only to bounce in the last couple hours, and then pulled back again into the close.
Let's see what happens tomorrow.
Good Trading!
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