Closing Analysis

Negative Day to Start the Week

Closing Technical Market Analysis for Mon July 29th 2019

The stock market had an interesting, mixed day on Monday as the Dow opened green and stayed green most of the day, while the S&P 500 and Nasdaq 100 saw nothing but red. The S&P 500 and Nasdaq 100 opened at the highs for the day, but all three indices stair-stepped their way lower to their lows for the day. They then moved up, the S&P 500 popped to resistance and broke out, but the Nasdaq 100 did not. The rest of the afternoon, the S&P 500 continued to move up with some volatility, while the Nasdaq 100 coiled and consolidated. In the last 20 minutes they tested support, failed to get through, rolled over, and closed down slightly lower, with losses on the day.

Net on the day, the Dow was up 28.90 at 27,221.35. The S&P 500 was down 4.89 at 3020.97. The Nasdaq 100 was down 27.87 at 7989.08.

Advance-declines were 49 issues positive on the New York Stock Exchange and 3 to 2 negative on the Nasdaq. Up/down volume was almost 3 1/2 to 1 positive of New York, total volume 3 billion shares traded. The Nasdaq traded 1.8 billion and had a nearly flat volume ratio. board was very red on Monday, but there were some gainers. To the upside, Apple Inc. (AAPL) up 1.94 to 209.68, Tesla, Inc. (TSLA) up 7.73 to 235.77, Intuitive Surgical, Inc. (ISRG) 1.98 to 529.61, and First Solar, Inc. (FSLR) 1.03 to 66.05.

Other gainers included, Inc. (OSTK) up 2.03 to 22.08, NovoCure Limited (NVCR) 3.09 to 82.00, Tower Semiconductor Ltd. (TSEM) 1.94 to 20.26, Genomic Health, Inc. (GHDX) 4.41 to 73.07, GrubHub Inc. (GRUB) 5.04 to 79.68, Luckin Coffee Inc. (LK) 1.66 to 26.58, Kirkland Lake Gold Ltd. (KL) 1.42 to 45.95, Alkermes (ALKS) 1.30 to 21.86, and Tenet Healthcare Corporation (THC) 1.58 to 23.59, along with several others.

To the downside, point-plus losers included, Inc. (AMZN) down 32.47 to 1910.58, Alphabet Inc. (GOOG) down 11.00 to 1239.41, Facebook, Inc. (FB) 3.81 to 195.94, Netflix, Inc. (NFLX) 3.08 to 332.70.

In addition, Beyond Meat, Inc. (BYND) was down 12.77 to 222.13, Twilio Inc. (TWLO) down 8.45 to 141.50, Zscaler, Inc. (ZS) 2.64 to 85.57, Etsy, Inc. (ETSY) 1.74 to 69.12, CyberArk Software Ltd. (CYBR) 5.21 to 141.73, Alteryx, Inc. (AYX) 1.52 to 120.00, and Cooper Tire & Rubber Company (CTB) 2.92 to 27.55.

Checking percent-gain leaderboard, Pieris Pharmaceuticals, Inc. (PIRS) jumped 58 cents, or 12%, to 5.33, on 5.3 million shares. CEL-SCI Corporation (CVM) gained 63 cents, or 9%, to 7.73. HEXO Corp. (HEXO) eked out 37 cents, or 9%, to 4.36, on 10 million shares.

Mylan N.V. (MYL) ran 2.32, or 13%, to 20.78, on over 60 million shares.

Among other gainers, ResMed Inc. (RMD) was up 2.54 to 129.41, United Rentals, Inc. (URI) up 1.38 to 128.99, and NXP Semiconductors N.V. (NXPI) 1.87 to 104.23.  

Let’s see what happens tomorrow.

Good Trading! 


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