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Volatile Stock Market Session Ends Mixed

Stock-Markets / Stock Market 2017 Mar 23, 2017 - 12:07 PM GMT

By: Harry_Boxer


The stock market indices volatile session today. They opened to the upside, pulled back, tested the lows successfully on the Nasdaq 100, while the S&P 500 made lower lows, and then they had a nice morning, sharp rally, got up to resistance, backed off and formed wedges. Late in the day they broke those wedges, but weren’t able to follow-through much, and backed off into the close, finishing mixed on the day.

Net on the day, the Dow was down 6.71 at 20,934.55. The S&P 500 was up 4.43 at 2348.45. The Nasdaq 100 was up 35.02 at 5367.56.

Advance-declines were 15 to 13 positive on the New York Stock Exchange, and 4 to 3 negative on the Nasdaq. Up/down volume was dead-even flat on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1 3/4 billion shares and had an 11 to 7 positive volume ratio.

Even though the board was mostly higher today, a lot of the stocks were very fractional gains. (PCLN) was up 4.85 to 1751.99, Apple Inc. (AAPL) up 1.58 to 141.42,, Inc. (AMZN) up 4.86 to 848.06, and Netflix, Inc. (NFLX) up 23 cents to 142.65, however, Alphabet Inc. (GOOG) dropped 87 cents to 829.59.

Baidu, Inc. (BIDU) fell 1.84 to 169.56, First Solar, Inc. (FSLR) closed down just 17 cents, and Facebook, Inc. (FB) gained 1.08 to 139.59. Microsoft Corporation (MSFT) advanced 82 cents to 65.03 and Intel Corporation (INTC) popped 33 cents to 35.37.

Tesla Motors, Inc. (TSLA) jumped 4.33 to 255.01.

Biotech stocks did okay today. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 1.20 to 45.80. Nektar Therapeutics (NKTR) was up 1.06 to 22.89, NVIDIA Corporation (NVDA) up 2.16 to 108.07, Clovis Oncology Inc (CLVS) 2.58 to 67.18, Check Point Software Technologies Ltd. (CHKP), one of our swing trades, 1.73 to 102.84, and bluebird bio, Inc. (BLUE) 2.25 to 86.30.

Checking percent-gain leaderboard, Idera Pharmaceuticals, Inc. (IDRA) popped 40 cents, or 19%, to 2.49, on 8.66 million shares traded.

Duluth Holdings Inc. (DLTH) ran 2.76, or 14%, to 22.02, on 3.35 million shares traded. Acacia Communications, Inc. (ACIA) bounced 5.40, or 10%, to 58.90, on 2.1 million shares traded. Applied Optoelectronics, Inc. (AAOI) jumped 4.40, or 9%, to 52.63.

Stepping back and reviewing the hourly chart patterns, the indices went a little lower in the morning, had a late sharp rally, only to coil or consolidate in the afternoon, and then broke out in the afternoon to finish mixed on the session.

Good Trading!


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