Harry Boxer
The Technical Trader
It was a huge day on Wall Street today. As bad as it was yesterday, it was a good day today. The day started out with the indices taking off from the get-go, they ran up in a 5-wave advance all day, stair-stepping their way up in 45-degree angles to close near the session highs.
Net on the day, the Dow was up 369.96 at 17,847.63. The S&P 500 was up 42.07 to 2091.69. The Nasdaq 100 was up 109.36 to 4716.42.
Advance-declines were 2 to 1 positive on New York Stock Exchange and 2 to 1 positive on Nasdaq. Up/down volume was 5 to 3 positive on New York, and Nasdaq had a 3 to 1 positive volume ratio. It wasn't a great day underlying technically, but it was a really good day price-performance wise.
TheTechTrader.com board was mostly all green today. Priceline.com (PCLN) was up 20.40 to 1300.48, Google, Inc. (GOOG) up 14.27 to 766.81, Apple Inc. (AAPL) up 3.83 to 119.03, Amazon.com Inc. (AMZN) 6.39 to 672.64, and Netflix, Inc. (NFLX) 4.12 to 130.93.
Tesla Motors, Inc. (TSLA), the only stock on our board that was down today, dropped 2.33 to 320.38.
Facebook, Inc. (FB) was up 1.80 to 106.18, Microsoft Corporation (MSFT) up 1.71 to 55.91, Intel Corporation (INTC) 90 cents to 34.94, Universal Display Corp. (OLED) 1.49 to 54.71, and Weight Watchers International, Inc. (WTW) 73 cents to 26.28.
Biotech stocks were strong today. Bristol-Myers Squibb Company (BMY) gained 2.66 to 69.11, Intra-Cellular Therapies, Inc. (ITCI) advanced 2.89 to 56.90, and Cellectis S.A. (CLLS) popped 1.17 to 33.60.
The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 1.11 to 21.67.
Checking the TheTechTrader.com percent-gain leaderboard, Live Ventures Incorporated (LIVE) had a big day today, up 92 cents to 2.34, or 65%, on 10 million shares. That was more than 12,700% volume than average. It ran straight up to 2.68 this morning from an opening low of 1.49.
Relypsa, Inc. (RLYP), on takeover rumors by Merk, ran 6.81 to 29.14, or 31%, on 15.6 million shares. That's huge volume for that stock. ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA) gained 20.89 to 184.04, or 13%, or 13%, on 5.2 million shares. Fitbit Inc. (FIT) had a good day, up 3.23 to 33.37, or 11%, on 9.5 million shares.
The Direxion Daily Gold Miners Bull 3X ETF (NUGT) ran 4.23 to 31.42, or 16%, on 11 million shares. The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) bounced 3.85 to 36.50, or 12%, on 1.1 million shares.
Other gainers of note included Agnico Eagle Mines Limited (AEM), up 2.16 to 29.13, along with many other stocks today.
Stepping back and reviewing the hourly chart patterns, the indices basically started out of the gate with a strong move, consolidated several times today, but continued rising in sharp, 45-degree, rising angles, and closed near the session highs. It was a nice way to close the week, especially after yesterday's plunge.
Have a nice weekend!
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