Harry Boxer
The Technical Trader
It was a big day on Wall Street today. The indices popped, pulled back twice in a 5-wave advance and ended at the session highs going away.
Net on the day, the Dow was up 162.29 at 16,424.85. The S&P 500 was up 19.33 at 1862.31. The Nasdaq 100 was up 45.23 at 3533.09. All three closed at the highs for the day.
Advance-declines were 4 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on Nasdaq. Up/down volume was nearly 5 to 1 positive on New York, with total volume of 665 million shares. Nasdaq traded 1.8 billion shares and had a 5 to 1 positive volume ratio.
TheTechTrader.com board was mostly higher. Priceline.com Incorporated (PCLN) was up 42.50 to 1212.25, Google Inc. (GOOG) up 20.10 to 556.54, Apple Inc. (AAPL) 1.05 to 519.01,Amazon.com Inc. (AMZN) 7.60 to 323.68, Netflix, Inc. (NFLX) 5.14 to 331.11 and Goldman Sachs Group, Inc. (GS) 2.30 to 157.22.
Tesla Motors, Inc. (TSLA) jumped 5.20 to 199.11, and Vipshop Holdings Limited (VIPS) ran 2.52 to 142.53.
First Solar, Inc. (FSLR) was up 1.20 to 67.59, Canadian Solar Inc. (CSIQ) up 1.80 to 26.97, and SolarCity Corporation (SCTY) 2.68 to 56.11 in a firm solar group.
Biotech stocks were strong today. InterMune Inc. (ITMN) was up 1.72 to 28.31, NewLink Genetics Corporation (NLNK) up 1.54 to 21.09, and OncoMed Pharmaceuticals, Inc. (OMED) up 1.56 to 25.00.
On the downside, the only stock down more than a point was Pharmacyclics Inc. (PCYC), down 1.82 to 90.04.
Checking the TheTechTrader.com percent-gain leaderboard, Zalicus Inc. (ZLCS) popped 32 cents to 1.35, or 31%, on 13.5 million shares. Oragenics Inc. (OGEN) ran 48 cents to 2.02, or 20%, on volume. Apricus Biosciences, Inc. (APRI) bounced 38 cents to 2.39, or 19%, on 1.2 million shares.
China XD Plastics Company Ltd. (CXDC) thrust 93 cents to 6.77, or 16%.
Bitauto Holdings Limited (BITA), which we traded, ran 4.56 to 35.33, or 15%, on 1.2 million shares. ANI Pharmaceuticals, Inc. (ANIP) advanced 3.17 to 24.79, or 15%. Akebia Therapeutics, Inc. (AKBA), which we traded, advanced 2.44 to 24.70, or 11%, on 1.3 million shares.
Other stocks of note included Tekmira Pharmaceuticals Corp. (TKMR) up 1.24 to 13.99, Interactive Brokers Group, Inc. (IBKR) 2.52 to 24.08, Autohome Inc. (ATHM) 4.30 to 35.64, ClearOne, Inc. (CLRO) 1.76 t 18.59, SodaStream International Ltd. (SODA) 3.06 to 40.75, j2 Global, and Inc. (JCOM) 3.35 to 49.69.
In addition, 21Vianet Group, Inc. (VNET) climbed 1.77 to 26.10, GrubHub Inc. (GRUB) ran 2.52 to 37.52, and Penn Virginia Corporation (PVA) thrust 1.12 to 16.79.
Arrowhead Research Corp. (ARWR), which we traded, was up 97 cents to 12.39. Horizon Pharma, Inc. (HZNP) gained 89 cents to 13.18, and Adept Technology Inc. (ADEP) 97 cents to 15.25.
Stepping back and reviewing the hourly chart patterns, the indices had a perfect 5-wave advance today. They gapped up, pulled back, came down in falling wedges, exploded at mid-session, pulled back in the afternoon and tested three times, held support, and came on strong in the last two hours in a wonderful session.
The Nasdaq 100 closed at its declining topsline, and the S&P 500, although it to that out, closed near resistance. The S&P 500 is leading the way after recovering more than half of its entire losses of the last couple weeks, but the Nasdaq 100 is far from that. We'll see whether there is a leadership change or not.
Let's just see how it goes tomorrow.
Good Trading!
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