(By Harry Boxer) The stock market indices had a mixed session, and narrowly so, with the indices closing not far from flat line.
The day started out with a move down, a bounce and another move down that held. The sharpest part of today's rally came in the morning when the Nasdaq 100 went from 2705 to 2721, a good 16 points. The S&P 500 rallied from 1396 to 1404. That was about it, though. They pulled back in the afternoon in an orderly fashion forming wedges. They tried to pop out in the last hour, but couldn't, rolled back into the close, and bounced in the last few minutes.
Net on the day, the Dow was up 7.04 at 13,175.64, about 27 points off its high and 60 points off the low. The S&P 500 was up .86 at 1402.21, only 2 points off its high and 6 points off the low. The Nasdaq 100 was down 3.14 at 2714.02, 7 points off the high and 9 points off its low.
So it was a mixed session, with mid-range closes. The technicals were flat.
Advance-declines were ahead by just 65 issues on New York Stock Exchange, and down by 300 issues on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of roughly 600 million shares. Nasdaq traded 1.7 billion, and had a 3 to 2 positive volume ratio.
TheTechTrader.com board was mostly narrowly mixed. Even though the Nasdaq 100 large-cap stocks in general were off, they were narrowly mixed for the most part as well. Apple Inc. (AAPL) was down another 1.05 to 619.86, Amazon.com Inc. (AMZN) down 2.18 to 234.38,
Priceline.com (PCLN) got slam-dunked for 117.48 to 562.32, or 17% on earnings.
Point-plus losers on the downside included VirnetX Holding Corp (VHC), down 2.16 to 25.50, Spreadtrum Communications Inc. (SPRD) lost 1.24 to 19.11 and TripAdvisor Inc. (TRIP) down 1.89 to 36.77.
Leading percentage gainers included Dean Foods Company (DF), on strong earnings, was up 5.04 to 17.46, or 40 1/2%, on 30.3 million shares. SkyWest Inc. (SKYW), on blowout earnings, jumped 1.48, or 22%, on 1.5 million shares. EnerNOC, Inc. (ENOC) gained 1.51 to 8.34, or 22%, on 1.9 million shares. GenMark Diagnostics, Inc. (GNMK) advanced 1.32 to 7.05, or 23%, on 854 thousand shares. Select Medical Holdings Corporation (SEM) 1.89 to 13.73, or 16%, on 1.8 million shares.
Gulfport Energy Corp. (GPOR) jumped 3.86 to 26.32, or 17%, on 3.8 million shares. Computer Sciences Corporation (CSC) gained 4.01 to 29.53, or 16%, on 7.5 million shares. Kenexa Corp. (KNXA) 3.68 to 30.16, or 14%, on 1.3 million shares. CSG Systems International Inc. (CSGS) popped 1.85 to 19.65, or 10%, on 894 thousand shares. International Flavors & Fragrances Inc. (IFF) advanced 5.49 to 62.01, or 10%, on 1.9 million shares. OPNET Technologies Inc. (OPNT) gained 2.57 to 30.56, or 9%, on 372 thousand shares.
Cleantech Solutions International, Inc. (CLNT) popped 32 cents to 2.52, or 14 1/2%, on 686 thousand shares. Global Cash Access Holdings (GCA) advanced 85 cents to 7.42, or 13%, on 1.6 million shares. ION Geophysical Corporation (IO) gained 68 cents to 7.67, or 9%, on 3.3 million shares.
In addition, Allot Communications Ltd. (ALLT) was up 2.07 to 24.87, Coffee Holding Co.Inc. (JVA) 76 cents to 6.58, Visteon Corp. (VC) 4.36 to 39.55, Rackspace Hosting, Inc (RAX) 4.17 to 53.47, Express Scripts Holding Company (ESRX) 4.71 to 60.73, URS Corporation (URS) 2.67 to 38.40.
Google Inc. (GOOG) was up 1.69 to 642.23.
Stepping back and reviewing the hourly chart patterns, the indices dropped early, back and filled, held support, came on strongly late morning, and reached the session highs as resistance proved futile today, particular the declining topsline. They then came down in kind of falling wedges before trying to bounce late in the session, and eventually backed off to close mixed on the session.
There were no gains or losses on both indices. Perhaps, it was a consolidation day.
We'll see how it goes tomorrow.
Good Trading!
Harry