Closing Analysis

Generally A Positive Session RSS

Closing Technical Market Analysis for Thu May 21st 2015

The stock market indices had a steadily higher day, but a little disappointing as they sold off at the end of the session. The day started out with a down move that held support, and then they rallied sharply as the Nasdaq 100 and S&P 500 retested the highs, but were unable to get through. They backed off and consolidated and tried again, making nominal new highs on the Nasdaq 100, but couldn’t follow through, or get confirmation from the S&P 500. The Nasdaq 100 fell just short of the 3130 all-time high and pulled back into the close.

Net on the day, the Dow was up .35 at 18,285.74, 29 points off the high and 34 points off the low. The S&P 500 was up 4.97 at 2130.82. The Nasdaq 100 was up 24.17 at 4529.47. Both the Dow and Nasdaq 100 closed midrange.

Advance-declines were 13 to 17 1/2 positive on New York Stock Exchange and positive by just two issues on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 3 billion shares. Nasdaq traded 1 2/3 billion shares, and had a 3 to 2 positive volume ratio.

TheTechTrader.com board was mixed, but the large-cap stocks did well. Priceline.com Incorporated (PCLN) was up 4.45 to 1212.63, Google Inc. (GOOG) up 3.24 to 542.51, Apple Inc. (AAPL) up 1.33 to 131.39, Amazon.com Inc. (AMZN) 7.77 to 431.63, and Netflix, Inc. (NFLX) 1.49 to 623.02.

On the downside, there were no point-plus loser on the main board.

Checking the TheTechTrader.com percent-gain leaderboard, low-priced AVEO Pharmaceuticals, Inc. (AVEO), on favorable drug news, ran as high as 3.50 before noon and gradually made it ways back to 2.23, still up 63 cents, or 40%, on 94 million shares. Ampio Pharmaceuticals, Inc. (AMPE) ran 38 cents to 2.41, or 19%, on 8.2 million shares. China Finance Online Co., Ltd. (JRJC) gained 80 cents to 5.96, or 15 1/2%, on 2.1 million shares.

Youku Tudou Inc. (YOKU) spiked 3.95 to 26.97, or 17%, on 12.7 million shares. Trina Solar Limited (TSL) advanced 1.41 to 12.47, or 13%, on 7.7 million shares, and helped lead the solar’s higher today. Calithera Biosciences, Inc. (CALA) popped 1.17 to 12.02, or 11%, on 1 million shares.

Among other gainers, Kirkland's Inc. (KIRK) was up 2.29 to 27.43, Oasis Petroleum Inc. (OAS) up 1.07 to 17.07, Sake Shack Inc. (SHAK) up 7.02 to 89.87, reaching over 90 today, Jumei International Holding Limited (JMEI) 2.03 to 28.03, and Stratasys. (SSYS) 2.34 to 37.31.

The ProShares Ultra Bloomberg Crude Oil (UCO) jumped 3.00 to 48.48.

Stepping back and reviewing the hourly chart patterns, the indices were down at the opening, and then rallied quickly to retest the highs. They consolidated midday, and tried again late in the session, but was unable to do so, and closed mixed on the session.

Let’s see how it goes tomorrow.

Good Trading!

Harry

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- Harry Boxer




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