Harry Boxer
The Technical Trader
The stock market indices had an interesting session today, after running up strong in a mini, 5-wave move to rally highs, on both the Nasdaq 100 and the S&P 500. They then rolled over in a 5-wave decline, and backed and filled in the last hour, but couldn't extend any late rally efforts.
Net on the day, the Dow was up 6.49 at 17,489.50. The S&P 500 was down 2.75 to 2050.44. The Nasdaq 100 managed to eke out a gain of .35 to 4565.82.
Advance-declines were 19 to 11 negative on New York Stock Exchange and about 15 to 13 negative on Nasdaq. Up/down volume was 2 1/2 to 1 negative on New York, with total volume of a hefty 4 1/3 billion shares. Nasdaq traded 1.8 billion shares, and had a 9 to 8 negative volume ratio.
TheTechTrader.com board was very mixed with Nasdaq 100 stocks lower. Priceline Inc. (PCLN) was down another 8.08 to 1258.79, Google Inc. (GOOG) down 3.66 to 725.30, Apple Inc. (AAPL) down just 49 cents to 113.69, Amazon.com Inc. (AMZN) 4.51 to 643.30, but Netflix, Inc. (NFLX) rises on projections, up 5.75 to 117.10.
Tesla Motors, Inc. (TSLA) closed down 31 cents to 214.00.
In addition, Prothena Corporation (PRTA), in a mixed biotech sector, lost 2.19 to 65.10, and NewLink Genetics Corporation (NLNK) stair-stepped its way down 1.07 to 34.93.
Solars were weak today. Canadian Solar Inc. (CSIQ) dropped 1.33 to 20.21, First Solar, Inc. (FSLR) gave back 1.43 to 52.75, and SunEdison, Inc. (SUNE) got crushed on 166 million shares, down 1.54 to 3.02.
On the upside, Facebook, Inc. (FB) was up 1.09 to 105.13, Globant (GLOB) up 3.09 to 37.94, Mobileye N.V. (MBLY) 1.72 to 43.62, and Teladoc, Inc. (TDOC) 1.13 to 19.36.
Checking the TheTechTrader.com percent-gain leaderboard, KaloBios Pharmaceuticals, Inc. (KBIO) gained 45 cents to 2.17, or 26%, on 5.3 million shares. Vuzix Corporation (VUZI) had quite an interesting day, closing up 60 cents to 5.50, or 12%.
Nuance Communications, Inc. (NUAN), a day trade of ours did very well today, was up 3.16 to 20.21, or 18 1/2%, on 15.2 million shares, and Flotek Industries Inc. (FTK) snapped back 1.62 to 10.63, or 18%, on 5 million shares.
The Direxion Daily Gold Miners Bear 3X ETF (DUST) advanced 2.71 to 22.64, or 14%, on 10.6 million shares. The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) ran 3.95 to 37.33, or 12%.
Other gainers of note included NeuroDerm Ltd. (NDRM), up 1.31 to 18.45, PTC Therapeutics, Inc. (PTCT) up 2.26 to 33.09, and bluebird bio, Inc. (BLUE) up 5.16 to 79.61.
The ultra-shorts did great until the last hour when the market bounced. The VelocityShares Daily 2x VIX ST ETN (TVIX) popped 65 cents to 7.27. The ProShares Ultra VIX Short-Term Futures (UVXY) gained 3.16 to 33.08.
Stepping back and reviewing the hourly chart patterns, the indices were up in a mini, 5-wave advance in the morning, down in a mini, 5-wave decline in the afternoon, and they closed narrowly mixed.
Let's see how it goes tomorrow.
Good Trading!
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