The stock market indices had a soft session today. The day started out with a little 3-wave corrective down move that held the trendlines and bounced, but then they rolled over, and rolled over sharply. The Nasdaq 100 dropped from 5344 down to 5317, and the S&P 500 dropped from 2367 down to 2359. They bounced back sharply, failed at resistance, backed off to retest, and at the very end of the day in the last 15 minutes, they came on sharply, and parred back a lot of the losses, but still closed negative on the day.

Net on the day, the Dow was down 25.20 at 20,812.24. The S&P 500 was down 6.11 at 2363.64. The Nasdaq 100 was down 17.24 at 5330.31.

Advance-declines were, however, still about 9 to 5 negative on the New York Stock Exchange, and nearly 4 to 1 negative on the Nasdaq. Up/down volume was almost 3 to 1 negative on New York, total volume of about 4 billion shares traded. The Nasdaq traded 2.2 billion shares and had a 3 to 1 negative volume ratio.

It was a very bad day in terms of the underlying technicals.

TheTechTrader.com board was mostly down today. However, Priceline.com (PCLN) was up 92.12 to 1724.13, reaching as high as 1748.39 on strong earnings, or the Nasdaq 100 would have been worse off, because stocks like Alphabet Inc. (GOOG) was down 6.07 to 823.21, Amazon.com, Inc. (AMZN) down 3.60 to 845.04, and Netflix, Inc. (NFLX) down 1.28 to 142.13. Apple Inc. (AAPL) closed basically flat, up just 7 cents to 137.00.

Baidu, Inc. (BIDU) bounced 1.17 to 174.14, Facebook, Inc. (FB) dropped 87 cents to 135.54, and First Solar, Inc. (FSLR) lost 1.64 to 36.19.

Tesla Motors, Inc. (TSLA) jumped 3.67 to 249.90.

Some of the biotech’s were down today. Clovis Oncology Inc (CLVS) lost 3.11 to 57.81, NVIDIA Corporation (NVDA) gave back 2.95 to 101.46, and there were many others.

To the upside, Editas Medicine Inc. (EDIT) did well today, up 1.93 to 24.93, reaching as high as 25.55.

Checking TheTechTrader.com percent-gain leaderboard, Prima Biomed Ltd. (PBMD) bounced 56 cents, or 23%, to 2.95, on 1.2 million shares traded. Airborne Wireless Network (ABWN) closed up 45 cents, or 19%, to 2.80.

Kite Pharma, Inc. (KITE) had a very big day, exploding 13.83, or 24%, to 70.66, on 10 million shares traded on a drug approval. LSB Industries Inc. (LXU) gained 2.03, or 23%, to 10.87, on 2.6 million shares traded. Nutrisystem, Inc. (NTRI) climbed 7.30, or 19%, to 46.50, on 2 million shares traded. 58.com Inc. (WUBA) did quite well today, up 4.11, or 13%, to 36.60, on 5 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were down in a sharp, 3-wave move until midday, bounced back up, rolled over and retested late afternoon, only to spring back in the last half hour.

Good Trading!

Harry

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