Closing Analysis

Good Day for the Market

Closing Technical Market Analysis for Wed October 11th 2017

The stock market had a strong session, opening firm, dipping to the lows for the day, and then rallying the rest of the session, and closing at the highs for the day going away.

Net on the day, the Dow was up 42.21 at 22,872.89, reaching all-time highs. The S&P 500 was up 4.60 at 2555.24, also reaching new all-time high and closing at the exact high for the day. The Nasdaq 100 was up 17.73 at 6,081.25, closing short of the all-time high.

Advance-declines were 17 to 11 1/2 positive on the New York Stock Exchange, and flat on the Nasdaq. Up/down volume was 15 to 13 positive on New York, total volume of 2.9 billion shares traded. The Nasdaq traded 896 million up and 898 million down and had an almost flat day. board was mixed. Leading the way were some of the big boys on the Nasdaq 100. (PCLN) was up 3.55 to 1920.20, Alphabet Inc. (GOOG) up 16.65 to 989.25, Apple Inc. (AAPL) up 65 cents to 156.55,, Inc. (AMZN) 7.80 to 995.00, but Netflix, Inc. (NFLX) closed down 13 cents to 194.95. Baidu, Inc. (BIDU) dropped 2.09 to 260.32, Facebook, Inc. (FB) gained 1.15 to 172.74, and First Solar, Inc. (FSLR) fell 47 cents to 47.20.  Tesla Motors, Inc. (TSLA) lost 99 cents to 354.60.

Other stocks to the upside included Universal Display Corp. (OLED) up 1.75 to 130.20, NVIDIA Corporation (NVDA) up 2.01 to 190.94, NUTANIX, INC. (NTNX) 1.05 to 26.66, and Corcept Therapeutics Incorporated (CORT) 1.38 to 20.07.

On the downside, the only point-plus loser on our board today was bluebird bio, Inc. (BLUE), which got smacked 6.20 to 125.45. 

Checking percent-gain leaderboard, Leading Brands, Inc. (LBIX) gained 67 cents, or 58%, to 1.83, on 10.5 million shares traded. Real Goods Solar, Inc. (RGSE) popped 40 cents, or 24%, to 2.10, on 17 million shares traded.   Akari Therapeutics, Plc (AKTX) jumped 1.37, or 23%, to 7.40, on 2.25 million shares traded. CASI Pharmaceuticals, Inc. (CASI) bounced 1.06, or 48%, to 3.28, on 19 million shares traded. Celsion Corporation (CLSN) thrust 1.24, or 27%, to 5.84, on nearly 20 million shares traded. 

Helios and Matheson Analytics Inc. (HMNY) exploded 5.01, or 18%, to 32.90, on 30 million shares traded, but closed way off he high. Aerie Pharmaceuticals, Inc. (AERI) ran 8.95, or 16%, to 64.30, on 3.7 million shares traded. Voyager Therapeutics, Inc. (VYGR) climbed 3.24, or 16%, to 24.00.

Stepping back and reviewing the hourly chart patterns, the indices opened a little firm, dipped early on to test support, and when that was successful they rallied pretty much the rest of the day with a midday consolidation along the way.

Let’s see what happens tomorrow. 

Good Trading!  


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