Closing Analysis

Big Reversal Day RSS

Closing Technical Market Analysis for Mon April 27th 2015

The stock market indices started the week out with a gap up, a pop to the highs for the rally, and then they reversed, going down for the rest of the day. Only a last five-minute pop pared back the losses, but it was a losing session. It may have been a key-reversal day, we just have to see what kind of follow-through, if any, we get tomorrow.

Net on the day, the Dow was down 42.17 at 18,037.97, 137 points off the high. The S&P 500 was down 8.77 at 2108.92, 17 points off the high. The Nasdaq 100 was down 11.74 at 4525.04, 37 points off its high.

Advance-declines were 19 to 11 negative on New York Stock Exchange and 19 to 8 negative on Nasdaq. Up/down volume was 3 to 2 negative on New York, with total volume of 3.3 billion shares. Nasdaq traded 2.1 billion shares, and had a 7 to 3 negative volume ratio. board was red with multiple-point losers, but there were a couple of major gainers that helped Nasdaq 100 and had a better performance than you would expect on a day like today. That’s because (PCLN) was up 20.11 to 1253.20, Netflix Inc. (NFLX) up 7.68 to 566.08. Apple Inc. (AAPL) was up 2.37 to 132.65 on 53.5 million shares in anticipation on tonight’s earning’s report.

Tesla Motors, Inc. (TSLA) jumped 13.13 to 231.55.

On the downside, Google Inc. (GOOG) was down 9.69 to 555.37, and Inc. (AMZN) down 6.54 to 438.56.

The biotech’s got wracked today. Advaxis, Inc. (ADXS) was down 2.06 to 21.28, Celldex Therapeutics, Inc. (CLDX) down 4.77 to 25.33, Intra-Cellular Therapies, Inc. (ITCI) down 1.68 to 21.03, Neurocrine Biosciences Inc. (NBIX) 3.87 to 39.50, Regulus Therapeutics Inc. (RGLS) 2.90 to 14.59, Sorrento Therapeutics, Inc. (SRNE) 1.15 to 9.36, and ZIOPHARM Oncology, Inc. (ZIOP) 1.00 to 9.81, just to mention a few in that sector.

Checking the percent-gain leaderboard, there were some gainers today. Low-priced Synthesis Energy Systems, Inc. (SYMX) gained 76 cents to 1.84, or 70%, on 16.2 million shares, 9300% more volume than average. Kosmos Energy Ltd. (KOS) bounced 84 cents to 9.53, or 10%, on 8.4 million shares.

Can-Fite BioPharma Ltd. (CANF) popped 1.12 to 3.29, or 52%, on 9.3 million shares.

Among other gainers, INC Research Holdings, Inc. (INCR) was up 5.19 to 35.31, and Youku Tudou Inc. (YOKU) up 1.87 to 18.90, Travelzoo Inc. (TZOO) 1.07 to 13.96.

The VelocityShares 3x Long Silver ETN (USLV) ran 2.08 to 19.29, and the ProShares UltraShort Biotech (BIS), with the biotech’s getting whacked today, thrust 2.53 to 33.03.

With gold up more than 20-dollars an once today, the Direxion Daily Jr Gold Miners Bull 3X Shares (JNUG) gained 1.74 to 21.43.

Stepping back and reviewing the hourly chart patterns, after a gap, the indices popped early on, reversed, and went down the rest of the day, dropping the Nasdaq from 4562 to 4516, nearly 50 points before bouncing 9-10 points in the last five minutes.

Let’s see how it goes tomorrow.

Good Trading!


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