Harry Boxer
The Technical Trader
The stock market indices had a topsy-turvy day with a rally in the morning, a midday plunge, a hold of secondary, key support, and a 5-wave advance that took them to new highs for the day and entire rally for several sessions. In the last half hour they pulled back to close slightly lower on the Dow, flat on the S&P 500, and over 1600 on the Nasdaq 100.
Net on the day, the Dow was down 6.62 at 17,862.14, 103 points off the low. The S&P 500 was down .06 at 2068.53, 11 points off the low. The Nasdaq 100 was up 16.13 at 4297.28, 20 points off the low.
Advance-declines were 8 to 7 negative on the New York Stock Exchange, and 7 to 6 negative on Nasdaq. Up/down volume was 4 to 3 negative on New York, with total volume of 3 1/2 billion shares. Nasdaq traded over 1 2/3 billion shares, and had a 9 to 7 positive volume ratio.
TheTechTrader.com board was mixed for sure. They had to be in the right sectors today.
Priceline.com Incorporated (PCLN) was up 2.44 to 1060.06, Apple Inc. (AAPL), reaching a new, all-time high up 2.86 to 124.88, on 71 million shares, Amazon.com Inc. (AMZN) 2.15 to 375.14, and Netflix, Inc. (NFLX) 94 cents to 454.89.
Facebook, Inc. (FB) gained 1.32 to and76.51, Splunk, Inc. (SPLK) ran 1.61 to 60.60, Twitter, Inc. (TWTR) 1.24 to 47.50.
On the downside, Alibaba Group Holding Limited (BABA) was down 1.26 to 86.00, Arista Networks, Inc. (ANET), on profit-taking, down 1.56 to 61.51.
Pharmacyclics Inc. (PCYC) lost 1.82 to 162.68, and Tesla Motors, Inc. (TSLA) dropped another 3.49 to 212.80.
Checking the TheTechTrader.com percent-gain leaderboard, Anthera Pharmaceuticals, Inc. (ANTH) bounced 53 cents to 3.78, or 15%, on 7.2 million shares.
The VelocityShares 3x Long Natural Gas ETN (UGAZ) ran 38 cents to 3.10, or 14%, on 48 million shares.
Ballard Power Systems Inc. (BLDP) popped 1.02 to 2.71, or 64%, on 31.2 million shares on a contract, 2800% more volume than average. Pfenex Inc. (PFNX) thrust 1.75 to 9.75, or 22%.
Digital Ally Inc. (DGLY) ran 2.04 to 12.54, or 19%. Clean Diesel Technologies Inc. (CDTI) up 34 cents to 2.32, or 13%, on 1.2 million shares. Advaxis, Inc. (ADXS) bounced 44 cents to 7.46.
Among other gainers, Sangamo Biosciences Inc. (SGMO) had an interesting day, up 1.26 to 13.93.
Genetic Technologies Limited (GENE) thrust 35 cents to 4.50. Rite Aid Corporation (RAD) climbed 50 cents to 8.08. Amicus Therapeutics, Inc. (FOLD) snapped back 40 cents to 8.11.
It was an interesting day for the biotech's. They were up in the morning, down in the afternoon, and then came back late in the day.
Stepping back and reviewing the hourly chart patterns, the indices were up in a 3-wave advance in the morning, made a sharp decline by midday, but held support, and then came back in a 5-wave advance, only to pull back into the close to finish nearly flat on the S&P 500.
Let's see what happens tomorrow.
Good Trading!
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