Harry Boxer
The Technical Trader
The stock market indices had an up day, but they closed near the low end of the range, and the S&P 500 closed at the low for the day. It was such a strong gap up in the morning that it ended profitable on the session, but wasn’t a good close.
The day started out with a big gap up, they ran up to test the old, 52-week highs and all-time highs on both the S&P 500 and Nasdaq 100, but fell short of both, and sold off until midday when they bounced. They were unable to do anything, and sold off again, finishing near the lows for the day, but, still, it was an up day.
Net on the day, the Dow was up just 17.88 at 18,547.30, about 80 points off the high. The S&P 500 was up 17.88 at 2186.90, right at the low, but 26-7 points off the high. The Nasdaq 100 had a strong day, up 9.92 at 4818.48, 18 points off the high.
However, advance-declines were 3 to 1 in the morning, they closed at 2 to 1 positive on the New York Stock Exchange, and the same on Nasdaq. Up/down volume was 2 to 1 positive on New York, total volume of 3 billion shares traded. The Nasdaq traded 2.5 billion shares and had a little better than 2 to 1 positive volume ratio.
TheTechTrader.com board was mixed. Priceline.com (PCLN) was down 1.52 to 1422.47, Google Inc. (GOOG) down 7 cents to 772.08, Apple Inc. (AAPL) was up 34 cents to 108.86, Amazon.com Inc. (AMZN) up 2.97 to 762.45, Netflix, Inc. (NFLX) up 68 cents to 95.94.
Baidu, Inc. (BIDU) dropped 36 cents to 173.49, Facebook, Inc. (FB) gained 22 cents to 124.37, and First Solar, Inc. (FSLR) fell 23 cents to 37.45.
Tesla Motors, Inc. (TSLA) jumped 1.91 to 224.84.
Mobileye N.V. (MBLY) was up 3.10 to 49.66, Ebix Inc. (EBIX) up 2.43 to 58.21, Ambarella Inc. (AMBA) up 2.02 to 67.86, Shutterstock Inc. (SSTK) 1.16 to 59.28,
On the downside, Twilio, Inc. (TWLO) gave back 2.57 to 56.08, and Acacia Communications, Inc. (ACIA) got hammered for 6.70 to 110.89.
Checking TheTechTrader.com percent-gain leaderboard, Hudson Technologies Inc. (HDSN), one of our swing trades, managed to eke out 68 cents to 6.18, or 12%, on 2.9 million shares traded.
Daktronics Inc. (DAKT) advanced 1.35 to 8.28, or 19 1/2%, on 2.8 million shares traded.
Clovis Oncology Inc. (CLVS), on a drug approval, exploded from 16.61, and closed up 4.93 to 23.03, or 27%, on 17 million shares traded. Puma Biotechnology, Inc. (PBYI) popped 1.97 to 56.62, or 3.6%. Syndax Pharmaceuticals, Inc. (SNDX) closed up 2.19 to 17.13, or 15%. Momo Inc. (MOMO) bounced 2.49 to 19.80, or 14%, on 8.6 million shares traded. Tableau Software, Inc. (DATA) opened at 58.79, ran to 62.52, before closing up 7.35 to 62.22, or 13%, on 7.5 million shares traded. Raven Industries Inc. (RAVN) jumped 2.49 to 24.00, or 12%, on 1 million shares traded.
Nordson Industries (NDSN) had a fantastic day, up 9.71 to 101.96, or 11%, on 1.7 million shares traded.
Stepping back and reviewing the hourly chart patterns, the indices gapped up sharply, pulled back down, by midday managed to bounce, but couldn’t get through, and backed off into the close.
It was a sloppy pullback day, after an opening big gap, but it was still a positive day.
Let’s see what happens tomorrow.
Good Trading!
In using any portion of The Technical Trader, you agree to the Terms and Conditions governing the use of the service as described in this disclaimer. Our disclaimers, policies and terms are subject to change without notice. The Technical Trader (www.thetechtrader.com) is published by Century-Pacific Investments and AdviceTrade, Inc., both of which are publishers. The Web site is maintained by Codexia, LLC. None of these firms, nor Mr. Boxer, is registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority. Each trade mentioned in the diary and other sections of The Technical Trader is hypothetical and is not an actual trade. Mr. Boxer and employees of Century-Pacific, AdviceTrade and Codexia are not allowed to have personal positions in stocks mentioned in the diary and other sections of The Technical Trader. This policy, first announced to subscribers on June 2, 2004, gave Mr. Boxer a deadline that was extended to July 30, 2004 for liquidating any existing personal holdings in stocks mentioned on the site. Our holdings page, in which Mr. Boxer listed his personal positions in stocks mentioned on the site, was removed at that time. The publishers are not permitted to have any financial relationship with companies mentioned on the site. Mr. Boxer may recommend trades of stocks mentioned in the Diary as a consultant to hedge funds, but has agreed not to make such recommendations until after the stock has been posted on The Technical Trader Web site. Mr. Boxer's commentaries, trading ideas and model trades represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Neither we nor Mr. Boxer claim to have any non-public information regarding the companies mentioned in this site. The trade prices that appear on this Web site are based on the average of the real-time bid and real-time ask prices provided by Money.net, except when entered manually by Mr. Boxer should Money.net's feed be temporarily down. There may be a delay between the price as it appears in the diary and the current price that you see from your terminal due to delays in Internet connectivity, quote delays, refresh intervals in the case of the Web-based diary page, data entry errors, and market conditions, and also due to times when Mr. Boxer is not available to make the trade at the moment a previously stated target has been met. Entries may at times be in error due to system or data-entry errors. Hypothetical performance results do not include trading commissions and other execution costs that would be incurred if the trades referenced in the diary or elsewhere on the site were actual trades. Past performance is no guarantee of future results.
Recommended Content
Editors’ Picks
EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD holds above 1.2350 after UK PMIs
GBP/USD clings to modest daily gains above 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.