Harry Boxer
The Technical Trader
The stock market indices had a strong session today, gapping up with strong futures overnight. The indices then popped, pulled back, tested support, and then ran up to the session highs by late morning. At that point, they went sideways, and consolidated for a couple hours. When they failed to breakout, they rolled over, retested, successfully making higher lows, and then rallied back near the close, finishing with solid gains on the day.
Net on the day, the Dow was up 61.81 at 17,113.54. The S&P 500 was up 9.90 at 1983.53. The Nasdaq 100 was up 27.49 at 3961.62.
Advance-declines were better than 2 to 1 positive on the New York Stock Exchange, and 2 to 1 positive on Nasdaq. Up/down volume was almost 2 1/2 to 1 positive on New York, with total volume of 560 million shares. Nasdaq traded nearly 1.7 billion shares, and had a 5 to 3 positive volume ratio.
TheTechTrader.com was mostly higher today. Priceline.com Incorporated (PCLN) led the way today, up 14.74 to 1230.66, Google Inc. (GOOG) up 5.27 to 594.74, Apple Inc. (AAPL) up only 78 cents to 94.72, Amazon.com Inc. (AMZN) 1.08 to 360.84, and International Business Machines Corporation (IBM) 3.24 to 194.09.
Pharmacyclics Inc. (PCYC) ran 1.06 to 96.61, and Vipshop Holdings Limited (VIPS) exploded 7.26 to 211.46.
Some of our swing trades did great today. Arris Enterprises, Inc. (ARRS) was up 1.29 to 34.01, GoPro, Inc. (GPRO) up 1.52 to 43.10, InterMune Inc. (ITMN) up 1.83 to 45.14, and Sanmina Corporation (SANM) 1.65 to 24.00.
VASCO Data Security International (VDSI) thrust 43 cents to 12.13, GT Advanced Technologies Inc. (GTAT) gained 44 cents to 15.03, and FireEye, Inc. (FEYE) closed up 86 cents to 36.31.
On the downside, Netflix, Inc. (NFLX) go hammered after earnings report, 20.86 to 431.09, and Tesla Motors, Inc. (TSLA) was down 96 cents to 219.58.
Checking the TheTechTrader.com percent-gain leaderboard, Net Element, Inc. (NETE) bounced 91 cents to 2.36, or 64%, on 4.7 million shares, and traded as high as 2.80 earlier in the day.
Crocs, Inc. (CROX), on earnings, jumped 1.84 to 16.68, or 12.4%, on 7.4 million shares. 500.com Limited (WBAI) ran 4.36 to 39.95, or 12 1/4%, on 1.8 million shares. Cardtronics Inc. (CATM) advanced 3.85 to 36.21, or 12%, on 1.5 million shares. CIT Group Inc. (CIT) flew 4.76 to 48.71, or 11%, on 8.9 million shares.
Among other gainers, Polaris Industries Inc. (PII), on strong earnings, was up 12.34 to 145.52, Nimble Storage, Inc. (NMBL) up 2.16 to 28.33, Helix Energy Solutions Group, Inc. (HLX) 1.85 to 26.38, ARM Holdings (ARMH), on positive earnings, 2.98 to 45.55, 58.com Inc. (WUBA) 2.23 to 52.41, InvenSense, Inc. (INVN), a new swing trade for us, 1.03 to 25.18, and Arista Networks, Inc. (ANET) 2.28 to 65.51.
Stepping back and reviewing the hourly chart patterns, the indices gapped up, pulled back, ran solidly to new multi-year and all-time highs on the S&P 500, and then consolidated for several hours before backing off to retest. They came on again at the close, and closed with a positive, solid up-session for the indices. However, the new multi-year highs on the Nasdaq 100 were not confirmed. Other than just a nominal new all-time high on the S&P 500, there really wasn't a solid take out of the prior high, but we'll be looking for that tomorrow in order to get confirmation.
Good Trading!
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