Closing Analysis

Wall Street Closes SHARPLY Higher

Closing Technical Market Analysis for Thu August 29th 2019

Wall Street had a very positive day on Thursday as indices opened to the upside, then gapped higher to morning highs. They then formed hard down bars that took them to morning lows. They coiled and tested the highs as they moved across the noon hour into intraday, the S&P 500 making new highs early on, but the Nasdaq 100 did not do so. Immediately after they reached intraday and session highs, the biggest down bars during the afternoon took them lower. They rallied back, rolled over, consolidated as they moved slightly lower on profit taking, and then pulled back into the close to close positive on the session.

Net on the day, the Dow was up 326.15 at 26,362.25. The S&P 500 was up 36.64 at 2924.58. The Nasdaq 100 was up 121.71 at 7709.61.

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

TheTechTrader.com board was mostly all green on Thursday. To the upside, point-plus gainers included Amazon.com, Inc. (AMZN) up 22.15 to 1786.40, Alphabet Inc. (GOOG) up 21.83 to 1192.85, Apple Inc. (AAPL) 3.48 to 209.01, Facebook, Inc. (FB) 3.81 to 185.57, and Netflix, Inc. (NFLX) 5.01 to 296.78.

Tesla, Inc. (TSLA) jumped 6.12 to 221.71, NVIDIA Corporation (NVDA) up 5.78 to 167.00, Intuitive Surgical, Inc. (ISRG) 6.91 to 508.16.

Microsoft Corporation (MSFT) gained 2.56 to 138.12, Intel Corporation (INTC) snapped back 1.08 to 46.87, and Baidu, Inc. (BIDU) advanced 1.24 to 104.83.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 1.42 to 37.93.

Other stocks to the upside included GMS Inc. (GMS) was up 4.10 to 27.71, PVH Corp. (PVH) up 4.47 to 76.00, Jabil Inc. (JBL) 2.05 to 28.23, Pinduoduo Inc. (PDD) 2.68 to 33.61, XPO Logistics, Inc. (XPO) 2.22 to 69.84, Radius Health, Inc. (RDUS) 1.60 to 26.50, SILK ROAD MEDICAL INC (SILK) 1.44 to 43.96, and Azul S.A. (AZUL) 1.84 to 35.17 were among many other gainers.

To the downside, point-plus losers included Fastly, Inc. (FSLY) down 3.98 to 27.94, Plus Therapeutics, Inc. (PSTV) down 2.44 to 16.81, Okta, Inc. (OKTA) 5.99 to 127.18, Enphase Energy, Inc. (ENPH) 2.12 to 31.15, Abercrombie & Fitch Co. (ANF) 2.57 to 14.45, and Best Buy Co., Inc. (BBY) 5.51 to 63.49.

Checking TheTechTrader.com percent-gain leaderboard, Mmtec, Inc. (MTC) bounced 62 cents, or 18%, to 4.09, on 4.7 million shares, with a high of 5.25.

Nutanix, Inc. (NTNX) advanced 4.41, or 221/2%, to 24.01, on 26 million shares. Elastic N.V. (ESTC) popped 8.63, or 11%, to 88.76, on 4.5 million shares. Tilly's, Inc. (TLYS) ran 2.17, or 25%, to 10.89, on 1.9 million shares. Guess', Inc. (GES) climbed 3.08, or 20%, to 18.12, on 13 million shares.

Burlington Stores, Inc. (BURL) gained 32.15, or 19%, to 205.42, on 5 million shares. Malibu Boats, Inc. (MBUU) ramped 2.57, or 10%, to 28.45.

Among other gainers, Dollar General Corporation (DG), on earnings, was up 15.06 to 156.09, Roku, Inc. (ROKU) 3.99 to 149.88, Five Below, Inc. (FIVE) 7.42 to 125.71, MongoDB, Inc. (MDB) 6.38 to 154.36, and Beyond Meat, Inc. (BYND) 5.17 to 165.48.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


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