Harry Boxer
The Technical Trader
The stock market indices had what looked like a negative session, but they ended mixed on the day.
Net on the day, the Dow was up 47.24 at 16,049.13, about 70 points off the high and 107 off the low. The S&P 500 was up 2.32 to 1884.09, 15 points off the high and 13 points off the low. Nasdaq 100, however, was down 20.10 to 4083.37, 72 points off the high and 30 points off the low.
Advance-declines were 17 to 13 negative on New York Stock Exchange and 17 to 10 negative on Nasdaq. Up/down volume was 21 to 19 positive on New York, with total volume of 4 billion shares. Nasdaq traded a little over 2.25 billion shares, and had a 14 to 8 positive volume ratio.
TheTechTrader.com board was mixed, but mostly lower. Apple Inc. (AAPL) fell 3.38 to 109.06, Amazon.com Inc. (AMZN) gave back 8.00 to 496.06, and Netflix, Inc. (NFLX) bounced all over the place, but ended down 1.12 to 98.35.
Tesla Motors, Inc. (TSLA) dropped another 1.78 to 246.65.
Biotech's got hammered today. Esperion Therapeutics, Inc. (ESPR) was down 16.76 to 18.33, or a whipping 48%, Advaxis, Inc. (ADXS) down 2.03 to 20.16, Aquinox Pharmaceuticals Inc. (AQXP) down 1.99 to 13.98, Heron Therapeutics, Inc. (HRTX) 2.01 to 21.34, NewLink Genetics Corporation (NLNK) 2.86 to 35.26, and Novavax, Inc. (NVAX) 1.74 to 6.41.
Facebook, Inc. (FB) lost 2.54 to 86.67.
On the plus side there were some gainers. Priceline Inc. (PCLN) jumped 1.18 to 1200.32, Google Inc. (GOOG) up gained 8 cents to 594.97.
Radius Health, Inc. (RDUS), on takeover talks, dropped clear down to 60.56, bounced over 9 points to 69.27, and then pulled back 3.79 to close at 65.41. Bristol-Myers Squibb Company (BMY) had a good day, up 1.49 to 58.95.
Checking the TheTechTrader.com percent-gain leaderboard, Arch Coal Inc. (ACI) ran 38 cents to 3.32, or 13%, on 2.7 million shares. Axcelis Technologies Inc. (ACLS) bounced 28 cents to 2.67, or 12%, on 1.7 million shares. Republic Airways Holdings Inc. (RJET) gained 68 cents to 5.97, or 13%, on 15.8 million shares, Intersect ENT, Inc. (XENT) advanced 2.27 to 22.29, or 12%, on 1 million shares. Rockwell Medical, Inc. (RMTI) popped 62 cents to 7.94, or 9%, on 2.3 million shares.
The Direxion Daily S&P Biotech Bear 3X ETF (LABD) climbed 6.87 to 63.90, or 12%, on 1.4 million shares.
Among other gainers, 58.com Inc. (WUBA) closed up 2.66 to 43.88.
Stepping back and reviewing the hourly chart patterns, the indices moved down at the opening and then rallied sharply to their session highs, but could not get through overhead resistance near S&P 500 1900 and Nasdaq 100 4155, and then came down hard all day until the last hour when they bounced sharply off the lows, but still, all they did was snapback to the declining topsline, and nothing more.
Let's see if there's a follow-through tomorrow.
Good Trading!
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