Closing Analysis

Positive Day for Wall Street

Closing Technical Market Analysis for Wed September 4th 2019

The stock market had a very positive day on Wednesday. It was a little topsy-turvy, but for the most part it was a consolidation day. The day started out with a pop to the upside, indices pulled back midmorning, but took off, consolidated, and moved up, pushing up through resistance around the noon hour. They pulled back, made a nice thrust back up and continued to move higher until they reached a triple-top high intraday, and then pulled back slightly into the close.                              

Net on the day, the Dow was up 237.45 at 26,355.47. The S&P 500 was up 31.51 at 2937.78. The Nasdaq 100 was up 95.77 at 7705.29.

Advance-declines were 4 to 1 positive on the New York Stock Exchange and 2 to 1 positive on the Nasdaq. Up/down volume was 7 to 1 positive of New York, total volume 3 billion shares traded. The Nasdaq traded 1.9 billion and had an equal volume ratio.

TheTechTrader.com board had a very positive session on Wednesday. To the upside, point-plus gainers included up 10.78 to 1800.62, Alphabet Inc. (GOOG) up 13.02 to 1181.41, Apple Inc. (AAPL) 3.49 to 209.19, Facebook, Inc. (FB) 4.75 to 187.14, Netflix, Inc. (NFLX) 2.23 to 291.52.

NVIDIA Corporation (NVDA) ran 4.59 to 168.76, Intuitive Surgical, Inc. (ISRG) gained 2.28 to 496.22, Microsoft Corporation (MSFT) advanced 1.59 to 137.63, Intel Corporation (INTC) popped 1.94 to 48.92, and First Solar, Inc. (FSLR) 1.49 to 62.46.  

Other stocks to the upside included Activision Blizzard, Inc. (ATVI) was up 2.44 to 53.50, Brunswick Corp (BC) up 1.97 to 47.14, Sea Limited (SE) 1.03 to 31.91, Teladoc, Inc. (TDOC) 2.69 to 59.16, Western Digital Corporation (WDC) 1.86 to 59.33, Carvana Co. (CVNA) 2.16 to 81.78, StoneCo Ltd. (STNE) 2.19 to 32.28, Fastly, Inc. (FSLY) 1.51 to 32.53, CrowdStrike Holdings, Inc. (CRWD) 1.55 to 85.31, and AeroVironment, Inc. (AVAV) 1.25 to 52.76, along with many others.  

To the downside, point-plus losers included Tesla, Inc. (TSLA) down 4.33 to 220.68, American Eagle Outfitters, Inc. (AEO) down 1.89 to 14.38, and Guardant Health, Inc. (GH) down 2.49 to 81.25.

Checking TheTechTrader.com percent-gain leaderboard, Ovid Therapeutics Inc. (OVID) thrust 23 cents, or 13%, to 1.99, on 1 million shares. Himax Technologies, Inc. (HIMX) stair-stepped 29 cents, or 15%, to 2.18, on 2.1 million shares. The Michaels Companies, Inc. (MIK) popped 66 cents, 12%, to 6.26, on 17 million shares. Top Ships Inc. (TOPS) advanced 97 cents, or 15%, to 7.63, on 2.9 million shares. Owens & Minor, Inc. (OMI) closed up 86 cents, or 15 1/2%, to 6.39, on 3.6 million shares.

OpGen, Inc. (OPGN) bounced 1.50, or 23%, to 8.02, on 12 million shares.  

Emergent BioSolutions Inc. (EBS) thrust 5.86, or 12%, to 56.00, on 1.5 million shares. Box, Inc. (BOX) gained 1.82, or 12%, to 16.67, on 11 million shares. Navistar International Corporation (NAV) climbed 2.92, or 13%, to 24.78, on 2.3 million shares. InMode Ltd. (INMD) popped 2.88, or 13%, to 25.27, on 2.7 million shares. Concert Pharmaceuticals, Inc. (CNCE) snapped back 1.34, or 12%, to 12.35.  

Among other gainers, Coupa Software Incorporated (COUP) was up 11.69 to 146.09, Roku, Inc. (ROKU) up 12.03 to 168.91, Wynn Resorts, Limited (WYNN) 3.59 to 108.92, and Wayfair Inc. (W) 8.82 to 118.10.

Let’s see what happens tomorrow.

Good Trading! 

Harry 


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