Harry Boxer
The Technical Trader
The stock market indices certainly didn't have a turn-around Tuesday, but an explosive, extensive Tuesday as the rally of the last few sessions extended in a big way today. The indices gapped up hugely on overnight futures and ran all day, with only a midday consolidation, closing at the highs for the day on Nasdaq 100, and slightly off the highs on the S&P 500.
Net on the day, the Dow was up 251.14 at 16,614.81. The S&P 500 was up 37.27 at 1941.28. The Nasdaq 100 was up 101.31 at 3971.39.
Advance-declines were 5 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on Nasdaq. Up/down volume was about 5 to 1 positive on New York, with total volume of 3.9 billion shares. Nasdaq traded 1.95 billion shares, and had a 5 to 1 positive volume ratio.
TheTechTrader.com board was green all the way. Priceline.com Incorporated (PCLN) was up 29.90 to 1132.97, Google Inc. (GOOG) up 5.70 to 526.54, Apple Inc. (AAPL) up 2.71 to 102.47, Amazon.com Inc. (AMZN) 9.12 to 315.33, andNetflix, Inc. (NFLX) 6.77 to 365.99.
Pharmacyclics Inc. (PCYC) bounced 1.73 to 116.56, Tesla Motors, Inc. (TSLA) gained 4.87 to 235.34, and Vipshop Holdings Limited (VIPS) hit 200.00 today, up 4.01.
Agios Pharmaceuticals, Inc. (AGIO) was up 4.65 to 72.90, VASCO Data Security International (VDSI), one of our swing trades, 1.53 to 19.76, NewLink Genetics Corporation (NLNK) 3.06 to 34.50, GW Pharmaceuticals (GWPH) 5.05 to 73.04, and GoPro, Inc. (GPRO) 4.92 to 80.92.
Solar stocks were strong today. First Solar, Inc. (FSLR) gained 1.98 to 56.35, SolarCity Corporation (SCTY) jumped 1.81 to 55.73, SunEdison, Inc. (SUNE) advanced 1.15 to 19.05, Canadian Solar Inc. (CSIQ) popped 2.23 to 30.85, and SunPower Corporation (SPWR) soared 1.41 to 31.74, just to mention a few of the solars.
Checking the TheTechTrader.com percent-gain leaderboard, LiveDeal, Inc. (LIVE), which we traded, popped 47 cents to 3.10, or 18%, on 9.3 million shares, reaching as high as 3.87 today. Orexigen Therapeutics, Inc. (OREX) reached 4.95 before closing at 4.51, up 45 cents, or 11%, on 8.7 million shares.
Enphase Energy, Inc. (ENPH) jumped 1.57 to 13.80, or 13%, on nearly a million shares. Bitauto Holdings Limited (BITA), which we traded today, had a big day today, up 8.50 to 81.06, or 12%, on 2 million shares.
Illumina Inc. (ILMN) had a fantastic day, up 15.08 to 179.55, or 9%, on 3.6 million shares.
Among other gainers, Harley-Davidson, Inc. (HOG), on a good earnings report, was up 4.27 to 62.65, American Airlines Group Inc. (AAL) up 2.63 to 37.85, and Spirit Airlines, Inc. (SAVE) up 4.24 to 63.20.
Stepping back and reviewing the hourly chart patterns, after a strong gap up, the indices moved higher and kept going higher in a rising channel all day. Very impressive session for the indices, but leaving us quite overbought short-term. So we'll see if we get a pullback over the next day or two. It looks like we could. The market is extended very short term, however. The NDX had gone from 3700, to 3971, 271 points in four sessions, with the S&P 500 jumping from 1822 to 1942 at the high.
Let's see what happens tomorrow.
Good Trading!
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