Closing Analysis

Mixed Choppy Day

Closing Technical Market Analysis for Mon March 12th 2018

The stock market indices had a very mixed, chppy day today. Although the Nasdaq 100 ended the day on a positive note, the DOW and S&P 500 closed down on the day. The day started out with a pop to the upside, and then they pulled back, steeply so, in the morning. The Nasdaq 100 rallied midday, taking them to new highs at 7156.25, but the S&P 500 was far from its highs. Then they pulled back to retest. In the afternoon when the test was successful, they rallied, but they could not get through the highs, and then sold off, particularly in the last ten minutes, finishing in the red for the blue chips, but still maintained nearly a 30-point gain on the Nasdaq 100.

Net on the day, the Dow was down 157.13 at 25,178.61. The S&P 500 was down 3.55 to 2783.02, 4 points off the low and 13 off the high. The Nasdaq 100 was up 29.94 at 7131.12, still 25 points off its high.

Advance-declines were 16 to 13 positive on the New York Stock Exchange, and 17 to 12 positive on the Nasdaq. Up/down volume was 3 to 2 positive on New York, total volume just a little over 3.1 billion shares traded. The Nasdaq traded a little over 2 1/4 billion shares and had a 3 to 2 positive volume ratio.

TheTechTrader.com board was mixed but generally positive. The Booking Holdings Inc. (BKNG), formerly Priceline, ran to a new all-time high at 2218.03, before pulling back and closing up 35.48 to 2206.09. Alphabet Inc. (GOOG) was up 4.46 to 1164.50, Apple Inc. (AAPL) up 1.74 to 181.72, and Amazon.com, Inc. (AMZN) was a big gainer, up 19.50 to 1598.39 reaching new highs at 1605.33.

Tesla Motors, Inc. (TSLA) was also a big gainer today, jumping 18.34 to 345.51. Baidu, Inc. (BIDU) was up 2.11 to 265.67, First Solar, Inc. (FSLR) up 2.15 to 70.05, NVIDIA Corporation (NVDA) 4.43 to 249.76, Applied Optoelectronics, Inc. (AAOI) 2.25 to 30.95, and Acacia Communications, Inc. (ACIA) 2.61 to 44.84.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) popped 1.87 to 109.16. bluebird bio, Inc. (BLUE) was up 1.10 to 233.05, Exact Sciences Corporation (EXAS) up 1.33 to 52.21, NUTANIX, INC. (NTNX) 2.38 to 51.48, Atara Biotherapeutics, Inc. (ATRA) 1.90 to 46.05,

On the downside, Netflix, Inc. (NFLX) got smacked with a negative report, dropping 10.14 to 321.30, Intuitive Surgical, Inc. (ISRG) was down 1.51 to 438.95, Facebook, Inc. (FB) closed lower by 47 cents to 184.76.

Universal Display Corp. (OLED) was down 3.65 to 128.40, Overstock.com, Inc. (OSTK) down 3.25 to 57.85, Nektar Therapeutics (NKTR) 5.27 to 103.07, and Intellia Therapeutics Inc. (NTLA) 1.69 to 33.26.

The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) was down 1.30 to 56.60 and the Direxion Daily Gold Miners Bear 3X ETF (DUST) fell 75 cents to 26.98.

Checking TheTechTrader.com percent-gain leaderboard, Bluelinx Holdings Inc. (BXC) jumped 12.24, or 77 1/2%, to 28.03, on 5 million shares traded.  Net Element, Inc. (NETE) climbed 3.21, or 21%, to 13.50, on 6.8 million shares traded. Innovate Biopharmaceuticals, Inc. (INNT) thrust 4.10, or 28%, to 19.00.  CounterPath Corporation (CPAH) advanced 85 cents, or 22 1/2%, to 4.63. Immutep Limited (IMMP) bounced 32 cents, or 17 1/2%, to 2.15. R1 RCM Inc. (RCM) gained 61 cents, or 10%, to 7.16. 

It was an interesting start to the week. Let’s see what happens tomorrow.

Good Trading! 

Harry   

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