Closing Analysis

Tough, Mixed Session

Closing Technical Market Analysis for Mon March 25th 2019

The stock market had a tough, mixed session on Monday, but early morning they really took a hit, and then came back. They then rallied to resistance, couldn’t get through, and sold off in a 5-wave decline to retest the lows. That was successful as well, and then they rallied in the afternoon to finish mixed on the session.

Net on the day, the Dow was up 14.51 at 25,516.83, approximately 145 points off the low. The S&P 500 was down 2.35 at 2798.36, 30 points off the lows. The Nasdaq 100 was down 9.10 at 7316.96, 51 points off its low.

Advance-declines managed edge into the positive by 1481 issues to 1366 issues on the New York Stock Exchange, and 1575 issues to 1475 issues positive on the Nasdaq. Up/down volume was 16 to 15 negative on New York, total volume 3.2 billion shares traded. The Nasdaq traded 2 billion shares and had a nearly flat volume ratio.

TheTechTrader.com board was very mixed. Leading the way to the upside, Amazon.com, Inc. (AMZN) was up 9.49 to 1774.26, Facebook, Inc. (FB) 1.95 to 166.29, Netflix, Inc. (NFLX) 5.22 to 366.23, and Intuitive Surgical, Inc. (ISRG) 1.46 to 562.72.

Other stocks to the upside included Cronos Group Inc. (CRON) 1.30 to 20.53, AxoGen, Inc. (AXGN) 1.01 to 21.42, New Oriental Education & Technology Group Inc. (EDU) 3.27 to 82.78, Voyager Therapeutics, Inc. (VYGR) 1.17 to 19.14, Roku, Inc. (ROKU) 2.99 to 66.90, Etsy, Inc. (ETSY) 1.84 to 67.86, and TAL Education Group (TAL) 1.00 to 35.82.

Point-plus losers included Alphabet Inc. (GOOG) down 12.50 to 1193.00, Apple Inc. (AAPL) down 2.31 to 188.74, Tesla, Inc. (TSLA) 4.11 to 260.42, and NVIDIA Corporation (NVDA) 3.72 to 173.78.

In addition, other stocks to the downside included Sarepta Therapeutics, Inc. (SRPT) down 3.34 to 118.92, Akamai Technologies, Inc. (AKAM) down 2.11 to 69.12, Nu Skin Enterprises, Inc. (NUS), uniQure N.V. (QURE) 1.48 to 61.95, Canada Goose Holdings Inc. (GOOS) 1.94 to 46.33, Micron Technology, Inc. (MU) 1.07 to 40.55, Teladoc, Inc. (TDOC) 3.11 to 55.66, iQIYI, Inc. (IQ) 1.00 24.02, and California Resources Corporation (CRC) 1.12 to 24.49, Clovis Oncology, Inc. (CLVS) 1.80 to 23.04.

Checking TheTechTrader.com percent-gain leaderboard, Check-Cap Ltd. (CHEK) popped 39 cents, or 14%, to 3.25, on a million shares. Curis, Inc. (CRIS) eked out 46 cents or 32%, to 1.89, on 20 million shares. Conformis, Inc. (CFMS) closed up 27 cents, or 11%, to 2.66, on 1.8 million shares. Anavex Life Sciences Corp. (AVXL) climbed 34 cents, or 11%, to 3.42, on nearly a million shares. CV Sciences, Inc. (CVSI) grabbed 55 cents, or 10%, to 6.26, on 3.3 million shares.

Catalyst Pharmaceuticals, Inc. (CPRX) gained 1.22, or 30%, to 5.24, on 13 million shares.

Axsome Therapeutics, Inc. (AXSM) jumped 3.34, or 26%, to 16.34, on 4.6 million shares. Yirendai Ltd. (YRD) ran 1.80, or 16%, to 13.25, on a million shares, up from the average 220,000 traded. Avaya Holdings Corp. (AVYA) advanced 4.30, or 33%, to 17.51, on 14.6 million shares. Intelligent Systems Corporation (INS) snapped back 3.39, or 12%, to 32.36.

Among other gainers, TreeHouse Foods, Inc. (THS) was up 2.60 to 63.94, Twilio Inc. (TWLO) 2.02 to 131.55, Medifast, Inc. (MED) 4.51 to 130.15, and Lululemon Athletica Inc. (LULU) 3.37 to 146.58.

Stepping back and reviewing the hourly chart patterns, the indices were down in the morning, up by midmorning, and then back down in the afternoon to retest the lows, only to finish back up to the upper end of the range, but, still, closed mixed session on the day.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


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