Major averages rose yesterday on higher volume. The rally was attributed to hopes regarding the issues in Greece whose situation is volatile to say the least, thus Greece's future remains subject to change without much notice which can add to market volatility. Indeed, German Finance Minister Wolfgang Schaeuble made it official Tuesday after the close: The likelihood is that there won’t be any quick resolution of the latest version of the Greek debt crisis. Whether the market can resolve its current lack of direction during an environment that may be somewhat news-volatile is an open question. The action of individual stocks likely becomes more relevant as potential clues may pile up before a resolution one way or the other.
LinkedIn (LNKD) was able to weather a pullback to the lows of its recent BGU intraday trading range, closing yesterday near the top of a three-day range.
Tableau Software (DATA) pulled down roughly within the -2% to -3% downside porosity allowable for more volatile stocks, and was able to close yesterday above the 95.16 intraday low of last week's BGU intraday range.
Developmental bio-tech name Intrexon (XON) had a gap-up type of pocket pivot yesterday, but is a bit extended as of yesterday's close.
Israeli cyber-security name CyberArk Software (CYBR) had a sharp upside move up through its 50-day moving average that qualified as a "roundabout" type of pocket pivot as it attempts to come up and off the lows of a potential double-bottom base. CYBR is expected to announce earnings tomorrow after the close.