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Urgent Stock Market Message

Stock Market Turn-Around Tuesday Closes Negative

Stock-Markets / Stock Market 2017 Apr 19, 2017 - 05:51 PM GMT

By: Harry_Boxer


It looks like turn-around Tuesday for the stock market indices today as the markets reversed yesterday, gains for losses, and pretty decent ones, too, but they did come back. The day started out with a gap down, but then a really sharp rally got them to their highs very quickly, within the first thirty minutes. At that point, they came down in a sharp, 3-wave decline, and reached their session lows by midday. An early afternoon rally back got to resistance and backed off late afternoon, and then surged into the close to reach the morning highs, but were unable to get through, and in the last five minutes they backed off.

Net on the day, the Dow was down 113.64 at 20,523.28. The S&P 500 was down 6.82 at 2342.18. The Nasdaq 100 was down 7.54 at 5391.66.

Advance-declines were about 15 to 14 negative on the New York Stock Exchange, and 15 1/2 to 12 1/2 on the Nasdaq. Up/down volume was 19 to 12 negative on New York, total volume of 3.2 billion shares traded. The Nasdaq traded 1.55 billion shares and had a flat volume ratio. board was narrowly mixed today. There were several point-plus losers. (PCLN) was down 7.30 to 1763.31, Alphabet Inc. (GOOG) down just 35 cents to 836.82, Apple Inc. (AAPL) down 63 to 141.20, Netflix, Inc. (NFLX) 3.89 to 143.36, however,, Inc. (AMZN) was the only point-plus gainers on the mainboard, up 1.79 to 903.78.

Baidu, Inc. (BIDU) gained 1.16 to 174.47, Facebook, Inc. (FB) dropped 46 cents to 140.96, and First Solar, Inc. (FSLR) gave back 45 cents to 26.89. Microsoft Corporation (MSFT) closed nearly flat, down 9 cents to 65.39 and Intel Corporation (INTC) popped 28 cents to 35.76.

Tesla Motors, Inc. (TSLA) lost 1.19 to 300.25.

On the downside, biotech’s had a bad day. Clovis Oncology Inc (CLVS) was down 1.25 to 56.13, Editas Medicine Inc. (EDIT) down 1.37 to 19.42, Esperion Therapeutics, Inc. (ESPR) 1.65 to 37.31, Kite Pharma, Inc. (KITE) 2.47 to 79.63, and bluebird bio, Inc. (BLUE) 4.65 to 83.60.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) dropped 1.76 to 44.53.

Checking percent-gain leaderboard, Interpace Diagnostics Group, Inc. (IDXG), on a secondary announcement, exploded 61 cents, or 28%, to 2.76, on 56.7 million shares traded, reaching as high as 4.45 at one point in the morning. XOMA Corporation (XOMA) bounced 91 cents, or 14%, to 7.41, on 1.2 million shares traded.

GNC Holdings, Inc. (GNC) ran 1.79, or 25%, to 9.03, on 26.6 million shares traded. Titan International, Inc. (TWI) climbed 1.24, or 14%, to 9.94, on 1.4 million shares traded.

Akari Therapeutics, Plc (AKTX) popped 1.66, or 12%, to 14.97. Core-Mark Holding Company, Inc. (CORE) close up 4.11, or 13%, to 34.87. Stratasys Ltd. (SSYS), which we day traded today, bounced 2.47, or 12%, to 23.77. That was a key breakaway day.

Stepping back and reviewing the hourly chart patterns, the indices were down at the opening, up sharply in the first half hour, a strong 3-wave decline tested and held support, before the afternoon rally brought them back to lower loses, but they still closed negative on the day.

Good Trading!


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