Harry Boxer
The Technical Trader
The stock market indices had a very strong session, and after gapping up in the morning, and consolidating to midday, they rallied in the afternoon, pulled back late afternoon, only to rally into the close, finishing near the session highs going away.
Net on the day, the Dow had a solid gain of 185.34 at 17,602.61. The S&P 500 was up 25.32 to 2064.29, within pennies off its high. The Nasdaq 100 was up 35.33 to 4624.59, just 2 points off its high.
Advance-declines were 6 1/2 to 1 positive on New York Stock Exchange and 5 to 2 positive on Nasdaq. Up/down volume was 15 to 1 positive on New York, and the most volume all year at 3 1/2 billion shares. That was the biggest day I've ever seen. Ever! So we'll see if that's an indication. I'm just not sure. The Nasdaq traded 2 billion shares and had just under 3 to 1 positive volume ratio.
TheTechTrader.com board had a strong session, but there were not any really strong gainers. Priceline Inc. (PCLN) was up 1.56 to 1279.05, Google Inc. (GOOG) up just 31 cents to 750.31, Apple Inc. (AAPL) up 1.38 to 108.61, Amazon.com Inc. (AMZN) up 55 cents to 663.70, and Netflix, Inc. (NFLX) 1.92 to 118.16.
Tesla Motors, Inc. (TSLA) was down 25 cents to 229.70, and Baidu, Inc. (BIDU) was down 50 cents to 196.53. Facebook, Inc. (FB) lost 88 cents to 104.63.
Other gainers of note included Canadian Solar Inc. (CSIQ), in a firm solar sector, up 1.01 to 28.93, First Solar, Inc. (FSLR) up 1.18 to 66.17, and Mobileye N.V. (MBLY) 1.81 to 41.32.
Biotech's were strong today. Intra-Cellular Therapies, Inc. (ITCI) was up 1.81 to 54.47, Juno Therapeutics Inc. (JUNO) up 1.10 to 45.63, NewLink Genetics Corporation (NLNK) 1.49 to 37.01, and Pacific Biosciences of California, Inc. (PACB), which is one of our swing trades that had an exceptional day, up 1.35 to 13.45.
Checking the TheTechTrader.com percent-gain leaderboard, Azure Midstream Partners, LP (AZUR), in a strong oil sector, ran 1.15 to 3.98, or 41%, on 1.15 million shares. Bonanza Creek Energy, Inc. (BCEI) popped 1.31 to 5.99, or 28%, on 4 million shares. Oasis Petroleum Inc. (OAS) thrust 1.34 to 8.09, or 20%, on 16.5 million shares. Constellium N.V (CSTM) climbed 1.24 to 8.75, or 16 1/2%, on 2 million shares.
Adamas Pharmaceuticals, Inc. (ADMS), by far the biggest gainer today on positive drug news, jumped 13.99 to 30.85, or 83%, on 7.7 million shares. Rovi Corporation (ROVI), on a deal with AT&T, bounced 3.31 to 14.66, or 29%, on 9.4 million shares. ReWalk Robotics Ltd. (RWLK) had a big day, up 2.35 to 16.72, or 16%, on 2.8 million shares.
Other gainers included CytomX Therapeutics, Inc. (CTMX) was up 2.53 to 22.49, Range Resources Corporation (RRC) up 2.34 to 24.18, and China Lodging Group, Limited (HTHT) 3.07 to 32.89. Celgene Corporation (CELG) ran 11.00 to 122.10 today.
Stepping back and reviewing the hourly chart patterns, the Nasdaq 100 was a little weaker than the S&P 500 today, but after a strong start, and rising channel on the S&P 500, they pulled back midday, but finished strongly near resistance at 2065, a solid, 25-point gain today. The Nasdaq 100, after consolidating in the morning, and failing to confirm the S&P 500, finally came on in the afternoon and closed near the session highs with solid gains.
Have a Great Holiday Weekend!
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