Closing Analysis

Positive Earnings Send Markets Higher

Closing Technical Market Analysis for Thu January 31st 2019

The markets had a very interesting day on Thursday.  The Nasdaq 100 and S&P 500 climbed higher with strong earnings report on large-cap stocks and many of the stocks we follow, helping to power the numbers higher. They opened to the upside, and ran up all day, closing just pennies off the high. We watched December end as one of the worst month’s in decades, however, it was the best January in 30 years, and the best month for the S&P 500 since 1987.

Net on the day, the Dow was down 15.19 at 24,999.67. The S&P 500 was up 23.05 at 2704.10. The Nasdaq 100 was up 98.93 at 6906.84.

TheTechTrader.com board had a very good day on Thursday. Amazon.com, Inc. (AMZN) was up another 48.30 on Tuesday as other large-cap stocks followed suit. Alphabet Inc. (GOOG) gained 2 1/2%, up 27.31 at 1116.37, Apple Inc. (AAPL) up 1.19 to 166.44, and even Facebook, Inc. (FB), despite what the press has predicted, exploded 16.27, or 11%, to 166.69, on a whopping 75 million shares traded on earnings. However, Netflix, Inc. (NFLX) suffered a loss of 1.16 to 339.50.

Tesla, Inc. (TSLA) also dropped 1.75 to 307.02, while Intuitive Surgical, Inc. (ISRG) stair-stepped 15.16 to 523.64 and NVIDIA Corporation (NVDA) gained 6.36 to 143.75. Baidu, Inc. (BIDU) eked out 3.29 to 172.63.

Marijuana stocks were up on Thursday. Cronos Group Inc. (CRON) was up 1.25 to 19.68, Tilray, Inc. (TLRY) up 3.01 to 80.49, and Aphria Inc. (APHA) 1.08, or 14%, to 8.74, on 13.7 million shares, and Canopy Growth Corporation (CGC) 98 cents to 48.98.  

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) jumped 2.22 to 49.59, Exact Sciences Corporation (EXAS) gained 2.17 to 90.08.

Other stocks to the upside included Codexis, Inc. (CDXS) up 1.13 to 18.82, Valero Energy Corporation (VLO) up 4.54 to 87.82, Teladoc, Inc. (TDOC) 2.13 to 64.20, AbbVie Inc. (ABBV) 1.23 to 80.29, Take-Two Interactive Software, Inc. (TTWO) 2.95 to 105.55, Advanced Micro Devices, Inc. (AMD) 1.32 to 24.41, Sarepta Therapeutics, Inc. (SRPT) 9.78 to 139.71, and Codexis, Inc. (CDXS) 1.13 to 18.82.

On the downside, Microsoft Corporation (MSFT) lost 1.95 to 104.43.

Checking TheTechTrader.com percent-gain leaderboard, Eldorado Gold Corporation (EGO) popped 81 cents, or 27 1/2%, to 3.75, on 8.4 million shares. Onconova Therapeutics, Inc. (ONTX) made its way up 66 cents, or 27%, to 3.10. Payment Data Systems, Inc. (PYDS) made a gain of 51 cents, or 20%, to 3.01. Quotient Limited (QTNT) climbed 97 cents, or 12%, to 8.96.

China SXT Pharmaceuticals, Inc. (SXTC) bounced 1.04, or 17%, to 7.11, on 3.3 million shares.

Qutoutiao Inc. (QTT) stair-stepped 1.22, or 12 1/2%, to 10.92, on 2 million shares. 1-800-FLOWERS.COM, Inc. (FLWS) advanced 2.61, or 20%, to 15.95, on 1.5 million shares. Surmodics, Inc. (SRDX) climbed 5.27, or 10%, to 57.27. MeiraGTx Holdings (MGTX) moved up 2.84, or 30%, to 12.38. Ferrari N.V. (RACE) climbed 13.61, or 12%, to 126.30, on 2.25 million shares. ServiceNow, Inc. (NOW) ran 26.02, or 13%, to 220.20, on 12 million shares. II-VI Incorporated (IIVI) jumped 4.78, or 14%, to 37.96, on 3.9 million shares. General Electric Company (GE) thrust 1.06, or 12%, to 10.16, on 345 million shares.

Among other gainers, Wynn Resorts, Limited (WYNN) was up 2.53 to 123.01, Workday, Inc. (WDAY) up 8.91 to 181.53, Discovery, Inc. (DISCA) 1.64 to 28.38, and Oshkosh Corporation (OSK) 2.27 to 75.05.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


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