Stock Market Volatile Session Ends on Positive Note

By: Harry_Boxer

The stock market indices had a very interesting, volatile day. They opened lower, rallied to resistance, rolled over very sharply to secondary support, held, and then rallied back at the end of the day, closing slightly upward.

Net on the day, the Dow was up 22.56 at 18,595.50. The S&P 500 was up 4.69 at 2186.92. The Nasdaq 100 was up 3.23 at 4808.68.

Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 19 to 8 positive on the Nasdaq. Up/down volume was a little better than 2 to 1 positive on New York, total volume of 3.2 billion shares traded. The Nasdaq traded 2.6 billion shares and had a 3 to 2 positive volume ratio.

TheTechTrader.com board was mixed, but slightly positive. Priceline.com (PCLN) was up a whopping 15.87 to 1443.07, however, Google Inc. (GOOG) was down 2.41 to 777.50, Apple Inc. (AAPL) down 14 cents to 109.08, Amazon.com Inc. (AMZN) down 17 cents to 764.46, and Netflix, Inc. (NFLX) 21 cents to 96.16.

Baidu, Inc. (BIDU) popped 2.67 to 175.40, First Solar, Inc. (FSLR) gained 63 cents to 37.52, and (FB) fell 46 cents to 123.91.

Tesla Motors, Inc. (TSLA) bounced just 27 cents to 22.51.

Other stocks to the upside included Acacia Communications, Inc. (ACIA), up 2.57 to 117.86, reaching a new, all-time high at 124.90 before backing off, Universal Display Corp. (OLED) up 1.89 to 61.23, Shopify Inc. (SHOP) up 1.51 to 40.25, Targa Resources Corp. (TRGP) 1.56 to 44.71.

On the downside, the only point-plus losers were Twilio, Inc. (TWLO) down 4.46 to 54.40 on profit taking, and Ambarella, Inc. (AMBA) down 2.46 to 63.64.

Checking TheTechTrader.com percent-gain leaderboard,

Sophiris Bio, Inc. (SPHS) ran 1.23 to 5.68, or 28%, on 2.6 million shares. Comstock Resources Inc. (CRK) advanced 76 cents to 6.52, or 13%, on 2.5 million shares. Digital Ally Inc. (DGLY) closed up 71 cents to llll6.27, or 13%, on 2 million shares. Arrowhead Research Corp. (ARWR) popped 72 cents to 7.06, or 11%, on 3 million shares.

Canadian Solar Inc. (CSIQ) jumped 2.14 to 14.35, or 18%, on 12 million shares. NetApp, Inc. (NTAP) spiked at the end of the day, up 5.02 to 33.87, or 17%, on 16 million shares near the high for the day.

Stepping back and reviewing the hourly chart patterns, the indices were up and down all day, first down, then up, then back down sharply midday, and back up at the end of the day to close positive on the session.

That was a pretty good session for the markets today with some positive gains.

Good Trading!

Harry

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