Harry Boxer
The Technical Trader
The stock market indices had a mixed, volatile session today. They gapped down at the opening, came down sharply, secondary support held, and then they ran back in a 5-wave rally to resistance. They came back down in the afternoon to retest, and did a 50% retrace into the close, to close lower on the day.
Net on the day, the Dow was down 28.43 at 18,011.94, 90 points off the low and 80 points off the high, so midrange. The S&P 500 was down 2.13 at 2109.60. The Nasdaq 100 was down 12.96 at 4508.89.
All three indices closed midrange.
Advance-declines were 16 to 13 positive on New York Stock Exchange and 16 to 11 1/2 on Nasdaq. Up/down volume was almost 2 to 1 positive on New York, with total volume of just under 3 billion shares. Nasdaq traded 1.8 billion shares, and had a flat volume ratio.
TheTechTrader.com board was very mixed, but Priceline.com Incorporated (PCLN) led the way, reaching 1200 at one point, up 29.36 to 1196.02, Google Inc. (GOOG) up 5.19 to 539.18,
Amazon.com Inc. (AMZN) was nearly flat, up just 7 cents to 430.00, and Netflix, Inc. (NFLX) up 89 cents to 623.91. Apple Inc. (AAPL) lost 57 cents to 129.96 and Tesla Motors, Inc. (TSLA) gave back 1.10 to 248.35.
First Solar, Inc. (FSLR) had a strong day today, up 1.05 to 50.94, Cyber-Ark Software Ltd. (CYBR) ran 1.39 to 62.11, and Arista Networks, Inc. (ANET) climbed 1.80 to 71.61.
On the downside, Regulus Therapeutics Inc. (RGLS) got whacked 2.25 to 11.53, Esperion Therapeutics, Inc. (ESPR) lost 4.00 to 100.03, and Advaxis, Inc. (ADXS) gave back 1.59 to 27.18, after reaching a new high of 29.42 in the morning.
Checking the TheTechTrader.com percent-gain leaderboard, Clean Diesel Technologies Inc. (CDTI) exploded 47 cents to 2.52, or 23%, on 23 million shares, reaching as high as 3.38 earlier in the day, 7700% more volume than average. Gevo, Inc. (GEVO) closed at the high going away, up 84 cents to 3.94 or 27%, on 8.8 million shares.
Vanda Pharmaceuticals, Inc. (VNDA) gained 1.23 to 11.43, or 12%, on 3.6 million shares.
The Direxion Daily Russia Bull 3X ETF (RUSL), which we traded today, ran 3.15 to 28.74, or 12%, on 1.2 million shares. The Direxion Daily Brazil Bull 3X ETF (BRZU) advanced 5.39 to 59.23, or 10%.
Among other gainers, Youku Tudou Inc. (YOKU) was up 2.20 to 29.84, 21Vianet Group, Inc. (VNET) up 1.47 to 20.31, Olympic Steel Inc. (ZEUS) 1.30 to 18.91, Conns Inc. (CONN) 2.53 to 38.07 on short covering, and PVH Corp. (PVH) 7.41 to 112.09.
ZAGG Inc (ZAGG) popped 80 cents to 10.16.
Stepping back and reviewing the hourly chart patterns, the indices opened with gaps to the downside, got hammered in the first 15-20 minutes, came back in a 5-wave advance to take back all the losses, only to rollover in the afternoon to finish negative on the day.
Let's see how it goes tomorrow.
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