Closing Analysis

Week Starts Out on Positive Note

Closing Technical Market Analysis for Mon February 4th 2019

The stock market had a very mixed day on Monday as the Dow and S&P 500 opened to the downside and the Nasdaq 100 popped to the upside. As earning season continues, many stocks that we follow are having positive reports. Monday started out as the Nasdaq 100 opened at 6876.52, pulled back immediately, and then stair-stepped its way up nearly all day, and spiked up at the end to close at the highs for the day at 6954.76. The S&P 500 opened in the red at 2705, pulled back, ran up slightly to the upside, pulled back to the early morning low for the day at 2698.75, took off, pulled back again, and then rallied the rest of the day, closing near the high for the day. It turned out to be a very positive day for the indices.

Net on the day, the Dow was up 175.48 at 24,269.37. The S&P 500 was up 18.34 at 2724.87. The Nasdaq 100 was up 84.44 at 6959.96.

Advance-declines were 2 to 1 positive on the New York Stock Exchange, and a little more than 2 to 1 positive on the Nasdaq. Up/down volume was 2 to 1 positive on New York, total volume 3.3 billion shares traded. The Nasdaq traded 2 billion shares and had a 2 to 1 volume ratio.

TheTechTrader.com board was mixed but mostly green. Amazon.com, Inc. (AMZN) was up 7.08 to 1633.31, Alphabet Inc. (GOOG) up 22.05 to 1132.80, Apple Inc. (AAPL) up 4.74 to 171.25, Facebook, Inc. (FB) 3.54 to 169.25, and Netflix, Inc. (NFLX) 11.49 to 351.34.

Microsoft Corporation (MSFT) jumped 2.96 to 105.74, and NVIDIA Corporation (NVDA) gained 4.45 to 149.18.

Other stocks to the upside included Teladoc, Inc. (TDOC) was up 1.22 to 64.42, DocuSign, Inc. (DOCU) 1.08 to 51.04, Roku, Inc. (ROKU) 2.22 to 47.43, and eHealth, Inc. (EHTH) 1.99 to 63.45.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) advanced a small fraction of 69 cents to 50.95, but Nutanix, Inc. (NTNX) snapped back 1.24 to 52.83.

On the downside, Intuitive Surgical, Inc. (ISRG) was down 2.22 to 522.43.

Checking TheTechTrader.com percent-gain leaderboard, The Alkaline Water Company Inc. (WTER) thrust to 3.99, before pulling back slightly and closing up 48 cents, or 14%, to 3.83, on 2.8 million shares. MDJM Ltd. (MDJH), a China real estate company, popped 52 cents, or 11%, to 5.13, after reaching 7.04 earlier in the day. Diebold Nixdorf, Incorporated (DBD) closed just 2 cents off the high, up 62 cents, or 14%, to 4.98, on 1.9 million shares. Calithera Biosciences, Inc. (CALA) popped 34 cents, or 8%, to 4.80.

Coffee Holding Co., Inc. (JVA), on a good earnings report, gained 1.13, or 18%, to 7.29, on over a million shares.

Papa John's International, Inc. (PZZA), which has been in trouble for some time, appointed a new board chairman, who invested 200 million shares into the company, their stocks gaining 9%, up 3.45, to 41.97. Evolus, Inc. (EOLS) managed to eke out 2.16, or 12%, to 20.50, on 8.2 million shares.

Marijuana stocks were up on Monday. Aphria Inc. (APHA) ran 1.22, or 13%, to 10.84, on nearly 30 million shares. Cronos Group Inc. (CRON) gained 2.44, or 12%, to 23.25, on 67.4 million shares. Aurora Cannabis Inc. (ACB) popped 64 cents, or 9%, to 8.04, on 67.2 million shares, Canopy Growth Corporation (CGC) ran all the way up to 51.81, midday pulled back and closed at 49.72, up 84 cents.

Among other gainers, Sysco Corporation (SYY) was up 3.07 to 66.64, The Clorox Company (CLX) up 8.52 to 158.38, Splunk Inc. (SPLK) 1.53 to 128.83, and The Trade Desk, Inc. (TTD) 6.41 to 151.67.

The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) gained 1.27 to 39.25, and the Direxion Daily Gold Miners Bear 3X ETF (DUST) reached 19.40 before it pulled back and closed up just 19 cents to 18.58.

Let’s see what happens tomorrow.

Good Trading! 

Harry  


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