Positive Start for Markets on Tuesday
Markets got off to a positive start on Tuesday, with the Dow moving higher as it extended into its seventh-day winning streak.
The day started out with the indices opening to the upside at 2910.61 S&P 500(NYSEARCA:SPY) and 7595.57 Nasdaq 100. They immediately pulled back, formed vertical wedges, came down, and then bounced. By midmorning, they began a very strong, 5-wave decline that took them into intraday. At that point, the down channel was intact as the trend remained lower, indices making new session lows at 2878.99 S&P 500 and 7489.99 Nasdaq 100 as rally’s weak sellers prevailed. They rallied mid-afternoon, rolled over, and with an hour to go, they pushed back up through support, but came back down to close in the red on the Dow and S&P 500, but the Nasdaq 100 closed positive on the day.
Net on the day, the Dow(NYSEARCA:DIA) was down 14.17 at 26,048.51. The S&P 500 was down 1.01 at 2885.72. The Nasdaq 100 was up 11.92 at 7513.85.
Advance-declines were flat on the New York Stock Exchange and nearly flat on the Nasdaq(NYSEARCA:QQQ). Up/down volume was 3 1/2 to 1 positive of New York, total volume 3 billion shares traded. The Nasdaq traded 2 billion shares and had a 12-point higher volume ratio.
TheTechTrader.com board was mixed, but a lot of Nasdaq stocks had a positive day on Tuesday. Amazon.com, Inc. (AMZN) was up 3.07 to 1863.70, Apple Inc. (AAPL) up 2.23 to 194.81, and Facebook, Inc. (FB) 3.28 to 178.10.
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Tesla, Inc. (TSLA) jumped 4.22 to 217.10, NVIDIA Corporation (NVDA) gained 2.32 to 150.75, Baidu, Inc. (BIDU) advanced 3.61 to 115.37, and First Solar, Inc. (FSLR) ran 1.09 to 64.25.
To the upside, other point-plus gainers included ArcelorMittal (MT) up 1.05 16.95, Zynerba Pharmaceuticals, Inc. (ZYNE) up 1.92 to 13.50, and Farfetch Limited (FTCH) 1.35 to 21.00.
To the downside, losers included Alphabet Inc. (GOOG) down 1.66 to 1078.72, Netflix, Inc. (NFLX) down 74 cents to 351.27, Intuitive Surgical, Inc. (ISRG) 3.16 to 506.56, Tilray, Inc. (TLRY) 2.65 to 40.49, Science Applications International Corporation (SAIC) 1.63 to 84.90, uniQure N.V. (QURE) 9.01 to 65.97, and Beyond Meat, Inc. (BYND) 42.06 to 126.04.
The Direxion Daily S&P Biotech Bull 3X ETF (LABU) lost 1.46 to 40.49.
Checking TheTechTrader.com percent-gain leaderboard, Osmotica Pharmaceuticals plc (OSMT) eked out 42 cents, or 18%, to 2.76. Hoth Therapeutics, Inc. (HOTH) popped 87 cents, or 12%, to 7.93. Huami Corporation (HMI) bounced 82 cents, or 9%, to 9.96. Ocular Therapeutix, Inc. (OCUL) move up 65 cents, or 20%, to 3.90, on 1.9 million shares.
ContraVir Pharmaceuticals, Inc. (CTRV) soared 2.50, or 36%, to 9.50, on 8.7 million shares.
Zynerba Pharmaceuticals, Inc. (ZYNE) snapped back 1.92, or 15 1/2%, to 13.50, on 6.7 million shares. Casey’s General Stores, Inc. (CASY) closed up 13.35, or 10%, to 146.39, on 1.3 million shares. Jaguar Health, Inc. (JAGX) bounced 2.69, or 36%, to 10.14, on 8.7 million shares. Bio-Path Holdings, Inc. (BPTH) thrust 1.78, or 14%, to 14.69, on 1 million shares.
Among other gainers, Dollar Tree, Inc. (DLTR) was down 2.75 to 106.53.
Let’s see what happens tomorrow.