Harry Boxer
The Technical Trader
The stock market indices had a volatile session with the FOMC statement today. They opened with a big gap to the upside, then came down in a 5-wave decline to test support that had broken on the S&P 500, but the FOMC came out and they exploded to the upside. They couldn't take out the highs and backed off, bounced a little in the last half hour, and pulled back into the close again, mixed on the session.
Net on the day, the Dow was down 31.75 at 16,880.36. The S&P 500 was down .12 at 1970.07. The Nasdaq 100 was up 17.03 at 3976.07.
Advance-declines were 3 to 2 negative on the New York Stock Exchange, and 3 to 2 positive on Nasdaq. Up/down volume was 6 to 5 negative on New York. Nasdaq had just under 2 to 1 positive volume ratio.
TheTechTrader.com board was mixed today. Priceline.com Incorporated (PCLN) was up 9.34 to 1255.95, Google Inc. (GOOG) up 1.81 t0 587.42, Amazon.com Inc. (AMZN) 2.51 to 322.51, and Netflix, Inc. (NFLX) 10.08 to 434.36. Apple Inc. (AAPL) was down 23 cents to 98.15
Tesla Motors, Inc. (TSLA) ran 3.91 to 228.92.
Twitter, Inc. was up 7.71 to 46.30, Facebook, Inc. (FB) up 97 cents to 74.68, GoPro, Inc. (GPRO) 2.25 to 46.32, and Arris Enterprises, Inc. (ARRS) 1.06 to 35.26.
On the downside, Pharmacyclics Inc. (PCYC) lost 1.33 to 123.42, and Vipshop Holdings Limited (VIPS) dropped just 7 cents to 211.85.
Checking the TheTechTrader.compercent-gain leaderboard, popped 90 cents to 6.60, or 16%, on 8 million shares.
ZELTIQ Aesthetics, Inc. (ZLTQ), a former swing trade of ours, exploded 4.75 to 21.34, or 29%, on 5.2 million shares. The Rubicon Project, Inc. (RUBI) ran 2.78 t0 13.00, or 27%, on 2 million shares. Amedisys Inc. (AMED), one of our stars which we traded today, thrust 4.09 to 20.16, or 26%, on 3 million shares. Inphi Corporation (IPHI) worked its way up 3.08 to 15.87, or 24%, on 1.3 million shares. United States Steel Corp. (X) climbed 5.36 to 33.03, or 19%, on 28.9 million shares. XPO Logistics, Inc. (XPO), which we traded today, closed up 4.93 to 30.96, or 19%, on 4.3 million shares.
In addition, RingCentral, Inc. (RNG) jumped 2.40 to 15.10, or 19%, on 1.9 million shares. Aegerion Pharmaceuticals, Inc. (AEGR) climbed 5.03 to 35.65, or 16%, on 4.5 million shares. El Pollo Loco Holdings, Inc. (LOCO) jumped to 38.25 and was up 8.00, before it pulled back to 34.56, up 4.66, or 16%, on 15.5 million shares. Tekmira Pharmaceuticals Corp. (TKMR) thrust 1.64 to 12.73, or 15%, on 1.2 million shares. Sarepta Therapeutics, Inc. (SRPT) gained 2.60 to 22.93, or 13%, on 2.8 million shares.
Among other gainers, The ExOne Company (XONE) was up 4.10 to 37.08, Hydrogenics Corporation (HYGS) up 2.31 to 23.12, Power Integrations Inc. (POWI) up 5.97 to 58.05, Arrowhead Research Corp. (ARWR) 1.23 to 13.18, ExamWorks Group, Inc. (EXAM) 3.34 to 35.75, SodaStream International Ltd. (SODA), on earnings, 3.00 to 32.77, Edwards Lifesciences Corp. (EW) 8.44 to 92.88, Voxeljet AG (VJET) 1.57 to 19.90, Yelp, Inc. (YELP) 6.12 to 75.60, and Hospira Inc. (HSP) 4.31 to 56.21.
Stepping back and reviewing the hourly chart patterns, the indices gapped up early, pulled back very sharply to take back all of the losses and then some on the S&P 500, but when the NDX failed to confirm, they rallied late in the day after the FOMC, pulled back, and then bounced again.
Let's see what happens tomorrow.
Good Trading!
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