The stock market indices had a mini volatile session as they opened sharply high, came down sharply, held support, rallied sharply midday, pulled back in the afternoon, and closed very sharply on the Nasdaq 100, reaching new all-time highs. Although the S&P 500 was dissimilar in that it made two consecutive lower highs verses the Nasdaq 100 making two higher highs, that was decidedly negative divergence. We’ll see whether or whether not that plays out tomorrow.

Net on the day, the Dow was down 2.19 at 20,979.75, 47 points off the low. The S&P 500 was down 1.66 at 2400.67, 4 points off the low. The Nasdaq 100 was up 19.96 at 5724.44, making a new all-time high, and closing just pennies off the high.

Advance-declines were 16 to 13 negative on the New York Stock Exchange, and flat on the Nasdaq. Up/down volume was 3 to 2 negative on New York, total volume of 3 billion shares traded. The Nasdaq traded 2 billion shares and had a 4 to 3 positive volume ratio.

TheTechTrader.com board had a rather mixed session today. Priceline.com (PCLN) led the way up 15.99 to 1829.80, Alphabet Inc. (GOOG) up 5.92 to 943.00, Amazon.com, Inc. (AMZN) up 8.10 to 966.07, but Apple Inc. (AAPL) was down 23 cents to 155.47 and Netflix, Inc. (NFLX) down 61 cents to 159.41.

Baidu, Inc. (BIDU) gained 4.50 to 190.64, Facebook, Inc. (FB) fell 41 cents to 149.78, First Solar, Inc. (FSLR) dropped 43 cents to 36.78.

Tesla Motors, Inc. (TSLA) jumped 1.13 to 317.01.

Semiconductors were particularly strong today. The VanEck Vectors Semiconductor ETF (SMH) gained 1.00 to 84.77 at the high for the day and all-time high. Qorvo, Inc. (QRVO) was up 3.30 to 74.84, NVIDIA Corporation (NVDA) also reached an all-time high today, up 2.50 to 136.81, Mazor Robotics Ltd. (MZOR) 1.97 to 41.42, Medidata Solutions, Inc. (MDSO) 1.03 to 70.35., Clovis Oncology Inc (CLVS) 1.05 to 49.56, Advanced Micro Devices, Inc. (AMD) had a big day, up 1.33 to 12.75, and Achaogen, Inc. (AKAO) 1.56 to 25.33.

Other stocks to the upside included Microsoft Corporation (MSFT), reaching its new all-time high, up 98 cents to 69.41, and Deere & Company (DE) up 1.00 to 114.80.

On the downside, Editas Medicine Inc. (EDIT) lost 1.71 to 18.30, collapsing during the session.

Checking TheTechTrader.com percent-gain leaderboard, Weibo Corporation (WB) had a phenomenal day today, running a whopping 15.70, or 25%, to 78.60, on 14 million shares traded. DXP Enterprises, Inc. (DXPE) climbed 8.61, or 26%, to 41.67. Akebia Therapeutics, Inc. (AKBA) bounced 2.11, or 16%, to 15.01, on 6.6 million shares traded. SINA Corporation (SINA) gained 15.00, or 18%, to 99.04, on 10.6 million shares traded. MACOM Technology Solutions Holdings, Inc. (MTSI) thrust 5.69, or 11%, to 57.00, on 3 million shares traded. Baozun Inc. (BZUN) advanced 2.92, or 15%, to 22.78, on 4.5 million shares traded.

Among other gainers, Momo Inc. (MOMO) was up 3.71, Alnylam Pharmaceuticals, Inc. (ALNY) 6.01 to 72.01, TAL Education Group (TAL) 10.51 to 131.29, and New Oriental Education & Technology Group Inc. (EDU) 4.91 to 75.82.

The VelocityShares 3x Inv Natural Gas ETN (DGAZ) jumped 1.92 to 19.94, on 12 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were up at the opening, they pulled back, rocked to the morning highs before pulling sharply back to test two layers of support. When that held, they rallied very sharply to the midday highs, and then pulled back. Fortunately, the Nasdaq 100 made new highs, but the S&P 500 did not confirm today.

We’ll see if that plays out tomorrow, or if there’s an intraday anomaly that will be rectified tomorrow. We shall see.

Good Trading!

Harry

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