Stock Market Narrowly Mixed Consolidation Day

By: Harry_Boxer

The stock market indices had a down day today, but they did come back in the last half hour. The day started out down, they went down sharply, then bounced off support, retested in the afternoon, held, and then came on strong, but did not manage to get back in the plus column.

Net on the day, the Dow was down 14.24 at 18,529.29, 27 points off the low. The S&P 500 was down 1.98 at 2180.89, 3 points off its low. The Nasdaq 100 was down 6.47 at 4784.74, 14 points off its low.

It was a fairly narrow day overall, and more of a consolidation day.

Advance-declines were 17 to 12 1/2 positive on the New York Stock Exchange, and 15 to 13 1/2 negative on the Nasdaq. Up/down volume was 5 to 3 positive on New York, total volume of 3.2 billion shares traded. The Nasdaq traded just under 1.6 billion shares and had an 8 to 7 1/2 positive volume ratio.

TheTechTrader.com board was mostly narrowly mixed up and down. Very few stocks had more than a point than a point to the downside. Priceline.com (PCLN) was down 9.22 to 1405.00, Google Inc. (GOOG) down 46 cents to 781.76, and Netflix, Inc. (NFLX) down 1.92 to 95.11, but Apple Inc. (AAPL) gained 89 cents to 108.37, and Amazon.com Inc. (AMZN) advanced 58 cents to 766.56.

Baidu, Inc. (BIDU) Bidu, Inc. (BIDU) lost 93 cents to 166.45, First Solar, Inc. (FSLR) gave back 30 cents to 43.82, but Facebook, Inc. (FB) popped 11 cents to 125.26.

Tesla Motors, Inc. (TSLA) dropped 3.87 to 226.16.

To the upside, Shopify Inc. (SHOP) was up 1.30 to 38.31, and Twilio, Inc. (TWLO) up 1.01 to 42.50.

Additional stocks to the downside included ANI Pharmaceuticals, Inc. (ANIP), down 1.28 to 67.00, and Intrexon Corporation (XON) 1.66 to 27.05.

Checking TheTechTrader.com percent-gain leaderboard, Cemtrex Inc. (CETX), on earnings, popped 88 cents to 5.95, or 17%, on 3.5 million shares.

Image Sensing Systems, Inc. (ISNS) exploded 1.63 to 4.05, or 67%, on 13 million shares, reaching up to 6.82 earlier in the day. Prana Biotechnology Limited (PRAN) bounced 1.34 to 5.80, or 30%, on 3.9 million shares.

In a strong oil group, Pacific Drilling S.A. (PACD) climbed 1.34 to 6.02, or 29%, on nearly a million shares. Resolute Energy Corporation (REN) closed up 1.60 to 8.35, or 23%, on 1.6 million shares. Sanchez Energy Corporation (SN) was up 1.13 to 7.74, or 17%, on nearly 10 million shares. California Resources Corporation (CRC) thrust 2.59 to 12.01, or 27 1/2%, on 12 million shares. Emerge Energy Services LP (EMES) gained 1.70 to 10.50, or 19%, on 1.4 million shares.

Sotheby's (BID) jumped 4.21 to 36.49, or 13%, on 9.5 million shares, and traded as high as 39.00 at one point in the day.

Stepping back and reviewing the hourly chart patterns, the indices opened slightly firm, then came down hard, especially when the Nasdaq 100 wasn't confirming the early run up to new highs on the S&P 500, which tagged an all-time high today just under 2186. They then had 5-step declines on the S&P 500, but it was more of a double bottom on the Nasdaq 100. The patterns looked very different today. But in the afternoon when the S&P 500 made a lower low, and the Nasdaq didn’t, they put on a last hour rally to pare back some of the losses.

Good Trading!

Harry

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