The stock market indices had a very excellent consolidation day, ending with gains on the day. The day started out with a pop to the upside, then a quick pullback, but the S&P 500 went to new highs, and the Nasdaq 100 failed to do so. When that happened, they pulled back midday. They tried to rally in the afternoon, unable to take out the highs. They pulled back at the end of the day, but then a quick, ten-minute snapback ensued that put them in the plus column.

Net on the day, the Dow was up 43.08 at 20,937.91. The S&P 500 was up 4.40 at 2398.42. The Nasdaq 100 was up 3.94 at 5703.35.

Advance-declines were 17 to 11 positive on the New York Stock Exchange, and 14 to 13 positive on the Nasdaq. Up/down volume was 18 to 13 positive on New York, total volume of 3.1 billion shares traded. The Nasdaq traded 2 billion shares and had a 85 to 80 negative volume ratio.

TheTechTrader.com board was mostly green. Priceline.com (PCLN) was down 48 cents to 1827.94, Apple Inc. (AAPL) down 19 cents to 153.80, and Alphabet Inc. (GOOG) was up 6.96 to 948.82, Amazon.com, Inc. (AMZN) up 87 cents to 971.54, and Netflix, Inc. (NFLX) up 79 cents to 157.95.

It was really a narrow day for a lot of stocks.

Baidu, Inc. (BIDU) gained 11 cents to 191.80, Facebook, Inc. (FB) dropped 17 cents to 148.07, and First Solar, Inc. (FSLR) closed flat at 36.47.

Tesla Motors, Inc. (TSLA) lost 6.49 to 303.86.

The only other stock to the upside on our board today was Bluebird bio, Inc. (BLUE), up 1.40 to 80.35.

On the downside, the Direxion Daily S&P Biotech Bull 3X ETF (LABU) dropped 9 cents to 47.29, NVIDIA Corporation (NVDA) lost 1.87 to 137.03, and Mazor Robotics Ltd. (MZOR) gave back 2.30 to 40.02.

Checking TheTechTrader.com percent-gain leaderboard, on positive earnings and development progress, Cleveland BioLabs, Inc. (CBLI) popped 59 cents, or 16.6%, to 4.14. Sangamo Therapeutics, Inc. (SGMO) bounced 75 cents, or 10%, to 10.07, on 1.9 million shares traded.

GlycoMimetics, Inc. (GLYC) climbed 2.24, or 20%, to 13.25, on 12.5 million shares traded, reaching as high as 14.30 at one point. Bunge Limited (BG) had a very interesting day, spiking 16.6% on takeover rumors, running up to 82.40, before pulling back slightly and closing up 11.63, to 81.70, on 9 million shares traded. Puma Biotechnology, Inc. (PBYI) snapped back 5.20, or 10%, to 57.80, on 5.6 million shares traded.

The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) ran 7.41, or 11%, to 77.70, on 2.9 million shares traded.

Among other gainers, Endo International plc (ENDP) was up 1.04 to 12.88, Take-Two Interactive Software Inc. (TTWO), on earnings, up 3.79 to 72.83, and AveXis, Inc. (AVXS) 3.77 to 72.83.

The VelocityShares 3x Inv Natural Gas ETN (DGAZ) thrust 1.40 to 19.57.

Stepping back and reviewing the hourly chart patterns, the indices gapped at the opening, pulled back in rising wedges, rolled over late morning, but failed to take out secondary support. They backed and filled the rest of the day, and finished positive on the 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.