Closing Analysis

China Enthusiasm Sends Markets Higher

Closing Technical Market Analysis for Mon February 25th 2019

The markets opened to the upside on Monday, and continued in the green after Trump announced that he will delay increasing tariffs on China, but closed at the session lows once enthusiasm about US-China trade progress faded. All three indices reached their high by eleven o’clock Monday morning. At that point, they rolled over, and with the exception of a few small rallies, they worked their way down, closing at the lows for the day, but still in the green.

Net on the day, the Dow was up 60.14 at 26,091.95. The S&P 500 was up 3.44 at 2796.11. The Nasdaq 100 was up 24.80 to 7115.43.

TheTechTrader.com board was very mixed on Monday. Amazon.com, Inc. (AMZN) was up 1.44 to 1633.00, Apple Inc. (AAPL) up 1.26 to 174.23, Facebook, Inc. (FB) 2.73 to 164.62, Netflix, Inc. (NFLX) up nearly a dollar, 89 cents to 363.91.

Tesla, Inc. (TSLA) bounced 4.06 to 298.77, and Intuitive Surgical, Inc. (ISRG) gained 1.53 to 553.39.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) jumped 6.96, or 59.81.

Other stocks to the upside included Square, Inc. (SQ) up 1.03 to 77.11, HUYA Inc. (HUYA) up 1.12 to 24.87, Momo Inc. (MOMO) 2.20 to 35.34, and Etsy, Inc. (ETSY) 2.34 to 59.01.

To the downside, Alphabet Inc. (GOOG) was down just 97 cents to 1109.40, Baidu, Inc. (BIDU) down 2.17 to 165.00, First Solar, Inc. (FSLR) 1.96 to 51.77, Nutanix, Inc. (NTNX) 1.85 to 51.23, Cronos Group Inc. (CRON) 1.67 to 20.25, and Overstock.com, Inc. (OSTK) 1.83 to 18.06.

Checking TheTechTrader.com percent-gain leaderboard, Zosano Pharma Corporation (ZSAN) thrust 55 cents, or 12%, to 5.09, on 8.2 million shares. Qudian Inc. (QD) ran 57 cents, or 10%, to 6.38, on 8.9 million shares. ION Geophysical Corporation (IO) eked out 83 cents, or 10%, to 9.00, on 51 million shares. Titan Pharmaceuticals, Inc. (TTNP), on drug news, bounced 43 cents, or 30 1/2%, to 1.84, on 23 million shares. Abeona Therapeutics Inc. (ABEO) stair-stepped 86 cents, or 13%, to 7.33, on a million shares.

China Internet Nationwide Financial Services Inc. (CIFS) exploded 1.52, or 119%, to 2.80, on 62 million shares. Phoenix New Media Limited (FENG) spiked to 5.10 at the opening, pulled back and closed up 1.15, or 32%, to 4.75, on 2 million shares. Aurinia Pharmaceuticals Inc. (AUPH) climbed 1.01, or 16%, to 7.20, on 3.7 million shares.

Akcea Therapeutics, Inc. (AKCA) bounced 4.57, or 17%, to 31.91. Audentes Therapeutics, Inc. (BOLD) advanced 2.99, or 11%, to 29.26, on 1.3 million shares. CRISPR Therapeutics AG (CRSP), on positive drug news, moved up 7.98, or 25%, to 39.65, on 4 million shares. uniQure N.V. (QURE) popped 14.27, or 34%, to 55.87, on 4 million shares. REGENXBIO Inc. (RGNX) stair-stepped 7.52, or 16%, to 54.02, on 1.7 million shares. Anaplan, Inc. (PLAN) closed up 3.44, or 10%, to 36.83, on 2.6 million shares. Rocket Pharmaceuticals, Inc. (RCKT) jumped 1.73, or 12%, to 16.61.

The VelocityShares 3x Invrs Crude Oil ETNNew (DWT) gained 74 cents, or 10%, to 8.61, on 9.8 million shares.

Among other gainers, Baozun Inc. (BZUN) was up 1.53 to 38.51, and Farfetch Limited (FTCH) up 1.65 to 21.85.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


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