Major averages were close to flat yesterday except for the Russell 2000 which was down almost 1%. Volume rose. The ascent of the bounce has slowed which helps averages digest sharp gains or, instead, increases the odds that the market may have come too far too fast, especially in an environment lacking QE.
Bioinformatics company ReWalk Robotics (RWLK) that develops exoskeletons for the treatment of wheelchair bound individuals had a buyable gap up after a strong earnings report. The gap up nearly closed minutes after the market opened but then rebounded. RWLK then also traded enough volume for a pocket pivot. Unfortunately, selling pressure renewed later in the day. We discussed RWLK in more detail in a separate report sent out yesterday.
Network security software company CyberArk Software (CYBR) had a buyable gap up after a strong earnings report. We hold a position in CYBR. Earnings and sales are accelerating, group rank 2.
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