Closing Analysis

Indices Back Off Late to Close Lower RSS

Closing Technical Market Analysis for Thu March 26th 2015

The stock market indices had a very tough opening as they gapped down sharply. They rallied back sharply, made lower lows on the S&P 500, and when the Nasdaq 100 didn’t do so, they held support and rallied back in a 5-wave advance, taking the indices substantially into the plus column. But in the last couple hours they backed off again finishing negatively for the day.

Net on the day, the Dow was down 40.31 at 17,678.23, about 100 off the lows and about 80 points off the high. The S&P 500 was down 4.90 at 2056.15. The Nasdaq 100 was down 14.03 at 4315.26.

Advance-declines were still 3 to 2 negative on the New York Stock Exchange, and 5 to 4 negative on Nasdaq. Up/down volume was a little less than 2 to 1 negative on New York, with total volume of 3.4 billion shares. Nasdaq traded close to 2 billion shares, and had a 11 to 9 negative volume ratio.

TheTechTrader.com board was mixed but there was a lot of red in it. Priceline.com Incorporated (PCLN) was down 12.34 to 1140.36, Google Inc. (GOOG) down 3.61 to 555.17, Amazon.com Inc. (AMZN) also down 3.61 to 367.35, Netflix, Inc. (NFLX) 3.49 to 418.26. Apple Inc. (AAPL) was up 86 cents to 124.24.

Tesla Motors, Inc. (TSLA) lost 3.90 to 190.40.

On the plus side, Cyber-Ark Software Ltd. (CYBR) climbed 2.73 to 52.87 in a strong cyber-security group today. NewLink Genetics Corporation (NLNK) bounced back from 44.25, up 1.57 to 48.93.

Checking the TheTechTrader.com percent-gain leaderboard, there were some interesting moves in the morning. Thinly traded Lime Energy Co. (LIME) gained 65 cents to 4.00, or 20%, continuing after yesterday’s acquisition of EnerPath.

Conatus Pharmaceuticals Inc. (CNAT) ran to 8.46 today, before pulling back to 6.76, up 1.00, or 17 1/2%, on 13 million shares.

Diplomat Pharmacy, Inc. (DPLO) jumped to 35.00 even today, closing up 4.28 to 34.63, or 14%, on 6 million shares. Red Hat, Inc. (RHT) climbed 6.91 to 75.36, or 10%, on 10.8 million shares. Five Below, Inc. (FIVE) gained 3.33 to 35.55, or 10%, on 9.1 million shares, on earnings. Coherus Biosciences, Inc. (CHRS) popped 2.42 to 26.97.

Oils were strong today. The ProShares Ultra Bloomberg Crude Oil (UCO) advanced 73 cents to 7.97, or 10%, on 29 million shares.

Let’s see what happens tomorrow.

Good Trading!

Harry

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- Harry Boxer




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