Very Negative Close

The stock market indices had a volatile session today. They popped at the opening, 3-wave, corrective pullback ensued, then they had a very strong rally midday that led to the session highs just under 4680 Nasdaq 100, and 2987 S&P 500. They came down in a 3-wave decline near the close, and then rolled over into the close to cement the negative close for the day. Net on the day, the Dow was down 55.99 at 17,702.22. The S&P 500 was down 6.72 to 2075.00. The Nasdaq 100 was down 4.79 to 4636.94.

Advance-declines were 17 to 13 negative on New York Stock Exchange and 2 to 1 negative on Nasdaq. Up/down volume was just under 2 to 1 negative on New York, with total volume of 3.6 billion shares. Nasdaq traded 1.6 billion shares, and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mixed. Priceline.com (PCLN) was up 6.04 to 1329.58, Google Inc. (GOOG) down 7.08 to 735.40, Amazon.com Inc. (AMZN), re up a whopping 13.57 to 673.25, Netflix, Inc. (NFLX) up just 16 cents to 112.86, but Apple Inc. (AAPL) dropped 66 cents to 116.11.

Tesla Motors, Inc. (TSLA) ran 2.58 to 219.08, and Baidu, Inc. (BIDU) jumped 2.50 to 199.49, reaching as high as 219.48 at one point in the day.

Facebook, Inc. (FB) was up 1.10 to 109.01.

Those were the only point plus gainers today.

On the downside, First Solar, Inc. (FSLR), in a weak solar sector, was down 1.16 to 54.71, Fitbit Inc. (FIT) down 1.61 to 34.31, and FireEye, Inc. (FEYE), in a weak cyber-security sector, 1.30 to 21.94.

Checking the TheTechTrader.com percent-gain leaderboard, Amira Nature Foods Ltd. (ANFI) ran 2.47 to 7.61, or 48%, on 8.5 million shares. Digital Ally Inc. (DGLY) climbed 1.61 to 7.51, or 27%, on nearly a million shares. Calithera Biosciences, Inc. (CALA) gained 1.13 to 7.84, or 17%.

The Hackett Group, Inc. (HCKT) advanced 2.35 to 18.28, or 15%, on nearly a million shares. Otonomy, Inc. (OTIC) thrust 3.34 to 27.80, or 16%. Alarm.com Holdings, Inc. (ALRM) popped 2.00 to 16.57, or 14%, on 1.4 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were up at the get-go, they came down in a 3-wave decline, tested the trendline, rally sharply off of that, but couldn't get through overhead resistance, came down and tested the trendline at the end of the day, and in the last five minutes, they got hit again, only to close near the session lows on the S&P 500.

Let's see how it goes tomorrow.

Good Trading!

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