Closing Analysis

Market Loses Steam, Indices Close Mixed

Closing Technical Market Analysis for Mon September 9th 2019

The stock market opened higher for the fourth consecutive session on Monday, but almost immediately moved down, and then spiked lower. Indices rallied back up, consolidated, but by midmorning, they started a huge rollover that took them through the noon hour to session lows on the S&P 500 but not the Nasdaq 100. After a pop and pullback intraday, indices rolled over to session lows on the Nasdaq 100. They then consolidated as they moved back up, but, still, closed negative on the day.

Net on the day, the Dow was up 39.05 at 26,835.51. The S&P 500 was down .28 at 2978.43. The Nasdaq 100 was down 42.48 at 7810.06.

Advance-declines were 3 to 2 positive on the New York Stock Exchange and 3 to 2 positive on the Nasdaq. Up/down volume was 7 to 1 positive of New York, total volume 3.8 billion shares traded. The Nasdaq traded 2.4 billion and had a 2 1/4 to 1 positive volume ratio.

TheTechTrader.com board was very mixed on Monday. Amazon.com, Inc. (AMZN) closed down 2.16 to 1831.35, Alphabet Inc. (GOOG) down just 52 cents to 1204.41, but Apple Inc. (AAPL) was up 91 cents to 214.17, Facebook, Inc. (FB) up 1.27 to 188.76, and Netflix, Inc. (NFLX) up 4.17 to 294.34.

Tesla, Inc. (TSLA) jumped 4.34 to 231.79, NVIDIA Corporation (NVDA) gained 1.85 to 180.50, however, Intuitive Surgical, Inc. (ISRG) lost 8.57 to 496.69.

So, you can see how mixed it was on Monday.

Other stocks to the upside included NetApp, Inc. (NTAP) up 2.80 to 54.78, HealthEquity, Inc. (HQY) up 2.50 to 58.12, Acadia Healthcare Company, Inc. (ACHC) 1.83 to 28.89, Stitch Fix, Inc. (SFIX) 1.26 to 19.42, Las Vegas Sands Corp. (LVS) 1.89 to 58.08, Weight Watchers International I (WW) 1.59 to 33.50, National Beverage Corp. (FIZZ) 3.65 to 44.31, InMode Ltd. (INMD) 1.92 to 26.05, and XPO Logistics, Inc. (XPO) 2.56 to 74.75.

To the downside, point-plus losers included Axonics Modulation Technologies, Inc. (AXNX) was down 2.47 to 33.24, Amgen Inc. (AMGN) down 5.39 to 202.34, Tilray, Inc. (TLRY) 1.91 to 30.15, Eli Lilly and Company (LLY) 2.98 to 111.07, Workday, Inc. (WDAY) 1.26 to 171.04, RealPage, Inc. (RP) 2.33 to 61.65, and Twilio Inc. (TWLO) 11.82 to 111.88.

Checking TheTechTrader.com percent-gain leaderboard, Callon Petroleum Company (CPE) popped 63 cents, or 15%, to 4.71, on 38 million shares. At Home Group Inc. (HOME) bounced 72 cents, or 10%, to 7.96, on 7.2 million shares. Cesca Therapeutics Inc. (KOOL) eked out 59 cents, or 17%, to 4.10, on 7 million shares. Express, Inc. (EXPR) climbed 37 cents, or 16%, to 2.60, on 1.95 million shares.

Federal National Mortgage Association (FNMA) claimed 1.16, or 43%, to 3.87, on 73 million shares. Freddie Mac (FMCC) soared 1.10, or 43%, to 3.67, on 32.5 million shares.

Changyou.com Limited (CYOU) exploded 2.92, or 49%, to 8.84, on 3.1 million shares. The Michaels Companies, Inc. (MIK) gained 1.28 or 16 1/2%, to 9.04, on 12.5 million shares.

Overstock.com, Inc. (OSTK) ran 2.57, or 15%, to 19.47, on 3.9 million shares. ACADIA Pharmaceuticals Inc. (ACAD) snapped back 15.05, or 63%, to 38.85, on 22.5 million shares. Genesco Inc. (GCO) ramped 4.74, or 13%, to 40.88.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


Harry Boxer For more of Harry Boxer, sign up for a FREE 15-Day Trial to his Real-Time Technical Trading Diary.

 


©2001-2019 TheTechnicalTrader (www.thetechtrader.com), a publication of AdviceTrade, Inc. All rights reserved.