Harry Boxer
The Technical Trader
The stock market indices had a session in which there were both ups and downs throughout most of the day. The day started out higher, came down, rallied midday, rolled over at the end of the day, and bounced into the close.
Net on the day, the Dow was down 6.84 at 18,105.77. The S&P 500 was down 1.64 at 2104.99, midrange on the day. The Nasdaq 100 was down 5.70 at 4418.83, also midrange on the day.
Advance-declines were 17 to 13 negative on New York Stock Exchange and 14 to 12 negative on Nasdaq. Up/down volume was 3 to 2 negative on New York, with total volume of 3 1/3 billion shares. Nasdaq traded 1.6 billion shares, and had an 8 to 7 negative volume ratio.
TheTechTrader.com board was mixed, but Netflix Inc. (NFLX) led the day with blowout earning, up 86.59 to 562.05, or 18%, on 14.8 million shares, and 61/2 points off the 568.75 high for the day.
Priceline.com Incorporated (PCLN) ran 5.14 to 1206.09, Google Inc. (GOOG) gained 1.27 to 533.80, and Amazon.com Inc. (AMZN) advanced 2.59 to 386.04. Apple Inc. (AAPL) dropped 61 cents to 126.17
In the cyber-security group, Splunk, Inc. (SPLK) ran 1.22 to 64.67, VASCO Data Security International (VDSI) popped 1.65 to 26.55.
On the downside point-plus losers included, Tesla Motors, Inc. (TSLA) was off one point, down 1.13 to 206.70, and Arista Networks, Inc. (ANET), dropped 2.12 to 65.67.
Checking the percent-gain leaderboard, MediciNova Inc. (MNOV) led the way today, up 1.45 to 4.96, or 41%, on 7.4 million shares, reaching as high as 5.90 earlier in the day.
Identiv, Inc. (INVE) ran 3.45 to 12.40, or 38.5%, on 1.5 million shares, 1200% more volume than average. Travelzoo Inc. (TZOO), on strong earnings, exploded 3.29 to 13.57, or 32%, on 2.3 million shares, 2000% more volume than average.
Among other gainers were Philip Morris International, Inc. (PM), a nice day trade, up 6.83 to 84.96, PTC Therapeutics, Inc. (PTCT) up 3.64 to 70.99.
Panera Bread Company (PNRA) jumped 18.97 to 182.89, Agioos Pharmaceuticals, Inc. (AGIO) bounced 8.21 to 106.69, and Receptos, Inc. (RCPT) advanced 9.65 to 167.97.
Stepping back and reviewing the hourly chart patterns, the indices opened lower, snapped back, went back down, tested support but held, and rallied back in a 3-wave, corrective-type move. After the S&P 500 reached near its weekly high, they then backed off into the close over the last hour to close with losses on the day. Not too bad of a session.
Let's see what happens tomorrow.
Good Trading!
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