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Stock Market Had a Positive Day on Tuesday

The stock market indices had a very interesting session and closed solidly in the plus column.

 

By Harry Boxer

 

The day started out with a big gap up, they pulled back, and then roared to spike up to resistance in the first half hour today. A very sharp pullback ensued by midday, they consolidated, and went sideways four times, testing support at 4885 Nasdaq 100, and 2245 S&P 500(NYSEARCA:SPY). When that held at the end of the day, in the last half hour they exploded back up to close positive on the day.

Net on the day, the Dow(NYSEARCA:DIA) was up 119.16 at 19,881.76, less than 20 points from the 20,000 mark. The S&P 500 was up 19.00 at 2257.83. The Nasdaq 100 was up 47.71 at 4911.33.

Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 9 to 5 positive on the Nasdaq(NYSEARCA:QQQ). Up/down volume was 29 to 8 positive on New York, total volume of 3.7 billion shares traded. The Nasdaq traded 1.83 billion shares and had a 13 to 5 positive volume ratio.

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TheTechTrader.com board was mostly green today. Priceline.com (PCLN) was up 11.51 to 1477.57, Alphabet Inc. (GOOG) up 14.32 to 786.14, Apple Inc. (AAPL) up just 33 cents to 116.15, Amazon.com, Inc. (AMZN) 3.42 to 753.29, and Netflix, Inc. (NFLX) 3.69 to 127.49.

Baidu, Inc. (BIDU) gained 3.89 to 168.30, Facebook, Inc. (FB) popped 1.81 to 116.86, and First Solar, Inc. (FSLR) 1.45 to 33.54.

Tesla Motors, Inc. (TSLA) jumped 3.30 to 216.99.

United States Steel Corp. (X) had a good day today, up 1.70 to 34.71.

On the downside, NVIDIA Corporation (NVDA), which was hammered down to 99.00 today, closed down 4.73 to 102.01, Twilio, Inc. (TWLO) was down 2.35 to 26.50, and Globus Maritime Limited (GLBS) down 22 cents to 4.30.

Checking TheTechTrader.com percent-gain leaderboard, CannaGrow Holdings, Inc (CGRW) advanced 42 cents, or 24%, to 2.20, on over half million shares traded. Kopin Corporation (KOPN) bounced 56 cents, or 10%, to 3.40, on 2 million shares traded.

Interpace Diagnostics Group, Inc. (IDXG) popped 3.10, or 70 1/2%, to 7.50, on 16.8 million shares traded, and reaching as high as 14.25, or over 200%, earlier in the day.

The VelocityShares 3x Inv Natural Gas ETN (DGAZ) ran 98 cents, or 32%, to 4.01, on 107 million shares traded. The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) climbed 1.04, or 19%, to 6.62, on 56.7 million shares traded. The Direxion Daily Gold Miners Bull 3X ETF (NUGT) closed up 96 cents, or 12%, to 8.60, on 55 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices were up sharply in the morning, down midday, consolidated, and then rallied into the close.

Let’s see what happens tomorrow.

Good Trading!