Very Strong Way to Start the Week

The stock market indices started off the week with a little pop to the upside, a pullback retest, and then they held the lows from Friday, especially on the Nasdaq 100, which was pretty negative last week. They then ran the market straight up from 4490 to 4565, a 75-point rally, on the Nasdaq 100, and the S&P 500 ran from 2024 to 2053, nearly 30 points, and they closed near the highs for the day going away.

It was a very, very nice start to the week.

Net on the day, the Dow was up 237.77 at 17,483.01. The S&P 500 was up 30.15 to 2053.19. The Nasdaq 100 was up 63.33 to 4565.47.

Advance-declines were almost 3 to 1 positive on New York Stock Exchange and 3 to 2 positive on Nasdaq. Up/down volume was just under 3 to 1 positive on New York, with total volume of 3.7 billion shares. Nasdaq traded 1 billion shares, and had a more than 2 1/2 to 1 positive volume ratio. Generally, a positive day. Much more so with the blue chips and the NYSE.

TheTechTrader.com board was mixed. Google Inc. (GOOG) led the way today, up 11.96 to 728.96, closing within pennies of its high. Apple Inc. (AAPL) was up 1.84 to 114.18, Amazon.com Inc. (AMZN) up 5.46 to 647.81, and Netflix, Inc. (NFLX) up 7.70 to 111.35.

They all closed not far off their highs.

Tesla Motors, Inc. (TSLA) jumped 7.12 to 214.31, and Baidu, Inc. (BIDU) gained 4.77 to 198.72. Prothena Corporation (PRTA) was up 1.03 to 67.29, Juno Therapeutics Inc. (JUNO) up 3.47 to 53.47, and Facebook, Inc. (FB) was nearly flat, up just 9 cents to 104.04.

The solar's were strong today. First Solar, Inc. (FSLR) advanced 1.46 to 54.18, JinkoSolar Holding Co., Ltd. (JKS) popped 1.26 to 23.56, and SolarCity Corporation (SCTY) thrust 1.99 to 27.84.

On the downside, Priceline Inc. (PCLN) got crushed for 30.88 to 1266.87.

Checking the The TechTrader.com percent-gain leader board, Baytex Energy Corp. (BTE) climbed 68 cents to 4.64, or 17%, on 3.5 million shares. Stone Energy Corp. (SGY) gained 59 cents to 6.58, or 10%, on 2.6 million shares. C&J Energy Services, Ltd. (CJES) closed up 35 cents to 4.85, or 8%, on 1.6 million shares. Hi-Crush Partners LP (HCLP) stair-stepped its way up 93 cents to 7.30, or 15%, not far from the highs for the day. The Velocity Shares 3x Long Crude Oil ETN (UWTI) thrust 56 cents to 7.59, or 8%, on 37.3 million shares.

Range Resources Corporation (RRC) bounced 2.90 to 34.62, or 9%, on 5.6 million shares.

Other gainers of note included Lipocine Inc. (LPCN) was up 1.21 to 14.38, and swing trade Bonanza Creek Energy, Inc. (BCEI) bounced 67 cents to 8.44.

Stepping back and reviewing the hourly chart patterns, the indices popped at the opening, got to resistance, pulled back, retested in a very orderly manner, and the breakout late morning triggered a rally that lasted all day into the close.

Let's see how it goes tomorrow.

Good Trading!

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