The stock market indices had an interesting day on Wednesday, closing with blue chips to the upside at new all-time highs. Nasdaq 100 had a difficult day, down nearly 20 points, but they came back off the lows substantially, especially the Direxion Daily S&P Biotech Bull 3X ETF (LABU), rallying late in the day and finishing positive, having reversed seven points off the lows.

The day started out with big gaps down, they made lower lows on the Nasdaq 100, but when the S&P 500 did not confirm, it made a higher low, and then they rallied. The S&P 500 had a 5-wave rally into the close to finish at the high for the day.

Net on the day, the Dow was up 51.31 at 19,083.18, a new intraday and all-time high. The S&P 500 was up 1.78 at 2204.72, 10 points off the low. However, the Nasdaq 100 was down 19.98 at 4853.86, 21 points off the low.

Advance-declines were flat on the New York Stock Exchange, and 370 issues positive on the Nasdaq. Up/down volume was 9 to 8 positive on New York, total volume of over 3.4 billion shares traded. The Nasdaq traded over 1 3/4 billion shares and also had a 9 to 8 positive volume ratio.

TheTechTrader.com board was mostly higher, but there were some Nasdaq Generals that were down today. Priceline.com (PCLN) was down 14.43 to 1520.99, Alphabet Inc. (GOOG) down 7.28 to 760.99, Apple Inc. (AAPL) down 57 cents to 111.23, Amazon.com, Inc. (AMZN) 5.21 to 780.12, and Netflix, Inc. (NFLX) 35 cents to 117.69.

Baidu, Inc. (BIDU) dropped 84 cents to 163.63, Facebook, Inc. (FB) gave back 63 cents to 120.84, but First Solar, Inc. (FSLR) gained 12 cents to 29.78. Microsoft Corporation (MSFT) lost 72 cents to 60.40, and Intel Corporation (INTC) popped 43 cents to 34.91.

Tesla Motors, Inc. (TSLA) had a good day, up 1.97 to 193.14.

Additional stocks to the downside included Acacia Communications, Inc. (ACIA), down 2.51 to 74.91, and Twilio, Inc. (TWLO) dropped 1.71 to 35.68.

On the plus side, stocks include NUTANIX, INC. (NTNX), up 1.02 to 34.13, Puma Biotechnology, Inc. (PBYI) up 2.10 to 46.30, Terex Corporation (TEX), one of our swing trades, which is in the infrastructure group, was up 1.62 to 30.96, U.S. Concrete, Inc. (USCR) 2.60 to to 61.10, Freeport-McMoRan Inc. (FCX) 1.09 to 16.21, Clovis Oncology Inc. (CLVS) 1.09 to 36.79, CoLucid Pharmaceuticals, Inc. (CLCD) 2.10 to 34.50, Aqua Metals, Inc. (AQMS) 1.08 to 13.27, Ambarella Inc. (AMBA) 3.08 to 65.36, Argan, Inc. (AGX) 2.20 to 54.85, swing trade and Aerie Pharmaceuticals, Inc. (AERI) 1.28 to 40.33.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 2.39 to 44.15, with a low of 37.42 today.

Checking TheTechTrader.com percent-gain leaderboard, Sino-Global Shipping America, Ltd. (SINO) led the way up 97 cents, or 30%, to 4.20, on 9.3 million shares traded. Voltari Corporation (VLTC) bounced 50 cents, or 23%, to 2.70.

Canopy Growth Corporation (CGC.TO) gained 2.19, or 27%, to 10.44, on 11 million shares traded. Caleres, Inc. (CAL) advanced 4.04, or 14%, to 32.49, on 1.6 million shares traded. Veeva Systems Inc. (VEEV) closed up 4.74, or 11%, to 46.29, on 5 million shares traded. Deere & Company (DE) had a fantastic day, up 10.16, or 11%, to 102.17, on 20.5 million shares traded.

The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) popped 5.45, or 16%, to 40.11, on 6.4 million shares traded. The Direxion Daily Gold Miners Bear 3X ETF (DUST) jumped 7.35, or 15%, to 57.75, on 11.7 million shares traded as gold got hammered under 1200 today.

There were many other gainers today as well.

Stepping back and reviewing the hourly chart patterns, the indices gapped down, came down hard, made lower lows on the NDX, but when the S&P 500 failed to confirm, they had a nice afternoon run-up, and closed at the afternoon highs going away and the session highs on the S&P 500.

It was a good day today as we go into the holiday weekend. We’ll see how it goes with a limited partial day on Friday.

Good Trading!

Harry

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