The stock market indices had a very interesting session. The Nasdaq 100 had a big gap up, and a sharp run in the morning, taking it up to over 5690, and the S&P 500 popped to 2404, both reaching new all-time highs. In the afternoon, they had a slow, 5-wave constructive pullback, although news of North Korea doing additional missile test caused the market to take a big hit. In the last fifteen minutes, they snapped back just as sharply, and actually finished up on the day on the Nasdaq 100, while the Dow and S&P 500 finished slightly lower in the red.

Net on the day, the Dow was down 36.50 at 20,975.78, 30 points off the low. The S&P 500 was down 2.46 at 2396.92, just 4 points off the high. The Nasdaq 100 was up 19.24 at 5678.31, 13 points off the high, but it was a solid session.

Advance-declines were 16 1/2 to 12 1/2 negative on the New York Stock Exchange, and slightly positive on the Nasdaq. Up/down volume was 19 to 16 negative on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded just under 2 billion shares and had a 11 to 8 positive volume ratio.

TheTechTrader.com board was mixed today, but there were plenty of point-plus gainers. Priceline.com (PCLN) was up 7.22 to 1911.13, Apple Inc. (AAPL) got up to 154.05, a new all-time high, and closed up 98 cents to 153.99, Amazon.com, Inc. (AMZN) 3.78 to 952.82, and Netflix, Inc. (NFLX) 1.08, 157.46. However, Alphabet Inc. (GOOG), the only point-plus losers on our board today, dropped 2.13 to 932.17.

Baidu, Inc. (BIDU) rocked 5.51 to 182.98, Facebook, Inc. (FB) fell 58 cents to 150.48, and First Solar, Inc. (FSLR) gained 63 cents to 35.78.

Tesla Motors, Inc. (TSLA) exploded 14.07 to 321.26.

Other stocks to the upside included Mazor Robotics Ltd. (MZOR), up 1.51 to 39.99, reaching as high as 41.07, Shopify Inc. (SHOP) up 2.37 to 89.15, trading over 91.00, and XPO Logistics, Inc. (XPO) 1.25 to 55.30

Biotech’s had a good day. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) jumped 2.16 to 47.01. Kite Pharma, Inc. (KITE), when the CEO bought a chunk of the stock, went from 66.75 to 72.93 before pulling back and closing at 72.10, up 1.11. Supernus Pharmaceuticals, Inc. (SUPN) advanced 1.00 to 32.90. NVIDIA Corporation (NVDA) popped on 17 cents, but in afterhours, it was trading nearly 14.00 to 219.70 on a strong earnings report.

Checking TheTechTrader.com percent-gain leaderboard, Emmis Communications Corp. (EMMS) bounced 68 cents, or 26%, to 3.26, on 2 million shares traded.

Cleantech Solutions International, Inc. (CLNT) pushed 2.20, or 57%, to 5.47, on 17 million shares traded, or 3,153% more volume than average.

World Acceptance Corporation (WRLD) rocketed 24.50, or 38 1/2%, to 88.00 even, on 1.4 million shares traded. Teladoc, Inc. (TDOC) ran 5.75, or 25%, to 28.60, on 3.4 million shares traded. Valeant Pharmaceuticals International, Inc. (VRX) popped 2.34, or 24%, to 12.05, on 126 million shares traded. WAYFAIR INC. (W) closed up 10.60, or 21%, to 61.73, on 12 million shares traded. Endo International plc (ENDP) gained 1.97, or 18%, to 12.82, on 22.222 million shares traded.

Stepping back and reviewing the hourly chart patterns, after a sharp run in the morning, the indices had a 5-wave decline, only to snapback late in the session to salvage a mixed session.

Good Trading!

Harry

For more of Harry Boxer, sign up for a FREE 7-Day Trial to his Real-Time Technical Trading Diary.

(c) 2017 AdviceTrade, Inc. All rights reserved. Distributed only by written permission of AdviceTrade and The Technical Trader at info@advicetrade.com . In using any portion of Harry Boxer's content, you agree to the terms and conditions governing the use of the service as described in our disclaimer at http://www.thetechtrader.com

Mr. Boxer's commentaries and index analysis 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. Trades mentioned on the site are hypothetical, not actual, positions.

Harry Boxer Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.