Harry Boxer
The Technical Trader
The stock market indices had an interesting day. The day started out with a gap up, they immediately reversed down, forming wedges all day, and then at the end the day breaking out of the wedges, and moving up into plus territory to close at the upper end of the range.
Net on the day, the Dow was up 20.32 at 18,272.56, at the high for the day, 60 points off the low. The S&P 500 was up 1.63 at 2122.73, 6 points off its low, but had a very narrow, consolidation day. The Nasdaq 100 was down .75 at 4494.29, 12 points off the low.
Advance-declines were 17 to 13 positive on New York Stock Exchange and 50 issues more declining than advancing on Nasdaq. Up/down volume was 4 to 3 positive on New York, with total volume of 2.9 billion shares. Nasdaq traded 1.5 billion shares, and had a 4 to 3 positive volume ratio.
TheTechTrader.com board was mixed.
Priceline.com (PCLN) was up 8.71 to 1198.80, but Netflix Inc. (NFLX) led the way by a whopping 26.40 to 613.25 on China entry reports. Both stocks helping Nasdaq 100 get back to zero today despite Google Inc. (GOOG) being down 4.55 to 533.85, Apple Inc. (AAPL) down 18 cents to 128.77, and Amazon.com Inc. (AMZN) down 6.28 to 426.00.
Tesla Motors, Inc. (TSLA) jumped 4.74 to 248.84, closing near the highs.
NewLink Genetics Corporation (NLNK) was up 1.57 to 39.69, swing trade Cheetah Mobile Inc. (CMCM) up 1.68 to 30.53, reaching as high as 30.84.
On the downside, in a weak cyber-security group, Cyber-Ark Software Ltd. (CYBR) dropped 1.27 to 60.23, FireEye, Inc. (FEYE) gave back 1.02 to 41.37.
Checking the TheTechTrader.com percent-gain leaderboard, low-priced eMagin Corp. (EMAN) thrust 61 cents to 2.68, or 30%. Nuverra Environmental Solutions, Inc. (NES) advanced 59 cents to 5.79, or 11%, on 1.5 million shares. OraSure Technologies, Inc. (OSUR) spiked 49 cents to 5.98, or 9%, on 3.3 million shares. Chanticleer Holdings, Inc. (HOTR) closed up 34 cents to 3.59, or 10%, on nearly a million shares.
BSQUARE Corp. (BSQR) ran 1.41 to 5.50, or 35%, on 4.4 million shares, 10,000% more volume than average.
Ocular Therapeutix, Inc. (OCUL) gained 4.31 to 26.27, or 20%. Sorrento Therapeutics, Inc. (SRNE) ran up to 15.00, pulled back to 13.01, up 1.51, or 13%, on 2.6 million shares.
Among other gainers, Trillium Therapeutics Inc. (TRIL) was up 1.78 to 20.35, Casey's General Stores, Inc. (CASY), a standout on earnings, up 7.79 to 91.31, SolarEdge Technologies, Inc. (SEDG), a recent IPO, 3.14 to 37.35, HollySys Automation Technologies, Ltd. (HOLI) 1.89 to 25.01, Globant S.A. (GLOB) 1.42 to 24.38,
Stepping back and reviewing the hourly chart patterns, the indices gapped up, came down hard, bounced around and formed wedges all session, broke out in the afternoon, and finished mixed on the day.
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