Closing Analysis

Mixed Session

Closing Technical Market Analysis for Thu March 14th 2019

The markets had a mixed session on Thursday. They started out with a move down, consolidated and then moved back up again, but when they couldn’t get through resistance, they started to rollover. In a very orderly fashion, which opened to be retested, a successful one, they bounced late in the day, but in the last ten minutes, they rolled over, the Nasdaq 100 closing near the lows for the day.

Net on the day, the Dow was up 7.05 at 25,709.94. The S&P 500 was down 2.44 to 2808.48. The Nasdaq 100 was down 13.97 to 7243.01, about 25 points off the high.

Advance-declines were 15 to 13 negative on the New York Stock Exchange, and 17 to 13 negative on the Nasdaq. Up/down volume was 18 1/2 to 15 negative on New York, total volume 3 1/3 billion shares traded. The Nasdaq traded a little less than 2.2 billion shares and had a 11 to 10 negative volume ratio. board was narrowly mixed on Thursday. Apple Inc. (AAPL) was up 2.02 to 183.73, Tesla, Inc. (TSLA) up 1.00 to 289.96, Intuitive Surgical, Inc. (ISRG) 1.57 to 558.73, Roku, Inc. (ROKU) 1.08 to 61.82, DocuSign, Inc. (DOCU) 1.19 to 58.85, but dropped 4 points in after hours.

Other stocks to the downside included, Inc. (AMZN) was down 4.59 to 1686.22, Alphabet Inc. (GOOG) 7.77 to 1185.55, Facebook, Inc. (FB) 3.20 to 170.17, Netflix, Inc. (NFLX) 2.39 to 358.82, and NVIDIA Corporation (NVDA) 3.06 to 165.56.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) dropped 2.41 to 60.71, Nektar Therapeutics (NKTR) down 1.34 to 36.32.

Checking percent-gain leaderboard, Boxlight Corporation (BOXL), after running up to 4.20 in the morning, gained 29 cents, or 11%, to 2.86, on 5.5 million shares. Melinta Therapeutics, Inc. (MLNT) popped 81 cents, or 17%, to 5.64, on 3.7 million shares. Smart Sand, Inc. (SND) advanced 51 cents, or 17%, to 3.48, on 1.9 million shares. Hancock Jaffe Laboratories, Inc. (HJLI) popped 35 cents, or 20%, to 2.09, on 4.4 million shares.

Atossa Genetics Inc. (ATOS), on an FDA approval, soared 5.56, or 368%, to 7.07, on 89 million shares, and trading as high as 7.74 in after hours. Emisphere Technologies, Inc. (EMIS) climbed 1.49, or 28%, to 6.74.

WageWorks, Inc. (WAGE) ran 9.12, or 30 1/2%, to 38.99, on 4.3 million shares. RadNet, Inc. (RDNT) ran 1.96, or 14%, to 15.86. MongoDB, Inc. (MDB) bounced 26.68, or 25 1/2%, to 130.94, on 10 million shares. Domo, Inc. (DOMO) climbed 6.59, or 21%, to 37.79, on 4 million shares.

Among other gainers, Guardant Health, Inc. (GH) was up 3.06 to 97.51, and Fluidigm Corporation (FLDM) up 1.02 to 13.81.

Stepping back and reviewing the hourly chart patterns, the indices were down early, rallied to midday, back down in the afternoon, bounced but couldn’t get through, and rolled over into the close to finish mixed.

Let’s see what happens tomorrow.

Good Trading! 


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