Harry Boxer
The Technical Trader
The stock market indices had a very, very good session, gapping up at the opening, consolidating in the morning, and running again in the afternoon. Only a late pullback prevented them from finishing with a very sharp gain at the highs for the day.
Net on the day, the Dow was up 75.91 at 18,112.61, 48 points off the high. The S&P 500 was up 10.79 at 2106.63, 5 points off the high. The Nasdaq 100 was up 26.88 at 4424.53, 11 points off its high.
Advance-declines were 2 to 1 positive on both the New York Stock Exchange and Nasdaq, and 2 to 1 positive on Nasdaq 100. Up/down volume was more than 2 to 1 positive on New York, with total volume of 4 billion shares. Nasdaq traded 1 3/4 billion shares, and had a 2 1/2 to 1 positive volume ratio.
TheTechTrader.com board was mostly positive. Google Inc. (GOOG) was up 2.14 to 432.53, and Apple Inc. (AAPL) up just 48 cents to 126.78.
Solar's were strong today. First Solar, Inc. (FSLR) gained 2.67 to 63.74, and SolarCity Corporation (SCTY), on takeover rumors, ran 1.45 to 56.55.
Cyber security stocks were stong as well today. Cyber-Ark Software Ltd. (CYBR), which led the way today, jumped 2.87 to 61.58. Splunk, Inc. (SPLK) popped 1.38 to 63.45, and VASCO Data Security International (VDSI) advanced 1.27 to 24.90.
Arista Networks, Inc. (ANET) was up 1.47 to 67.79, and GoPro, Inc. (GPRO) up 1.19 to 45.67.
Gold was firm today, as Royal Gold, Inc. (RGLD) ran 1.24 to 62.72.
On the downside, Priceline.com Incorporated (PCLN) gave back 3.76 to 1200.95.
Amazon.comInc. (AMZN) dropped 1.66 to 383.45, and Netflix, Inc. (NFLX) lost 3.25 to 475.46. But in the afterhours NFLX exploded another 58 points on a very strong earnings report. So, we can expect to see a gap up in the morning.
NewLink Genetics Corporation (NLNK) was down 2.61 to 53.87.
Checking the TheTechTrader.com percent-gain leaderboard, there were quite a few gainers today.
Leading the way, Viggle Inc. (VGGL), on a good earnings report, bounced 68 cents to 2.19, or 45%, on 8.8 million shares. Celsion Corp. (CLSN) ran to 3.57 before pulling back to 3.15, up 49 cents, or 18 1/2%, on 8.6 million shares.
New IPO Aduro Biotech Inc. (ADRO), which we traded today, gained 25.00 to 42.00, or 147%, on 6.8 million shares, on a very big session. Galmed Pharmaceuticals Ltd. (GLMD) climbed 1.72 to 10.50, or 20%, on light volume. Smith & Wesson Holding Corporation (SWHC) advanced 1.97 to 14.97, or 15%, on nearly 6 million shares. Foamix Pharmaceuticals Ltd. (FOMX) closed up 1.30 to 10.70, or 14%, on 4 million shares. Mobileye (MBLY), which we traded today, had a big day, up 4.29 to 46.64, or 10%, on 9 million shares.
Oil stocks were phenomenal today, especially the junior oil's. Basic Energy Services, Inc. (BAS) led the way, up 1.04 to 9.29, or 13%, on 5.7 million shares.
The Direxion Daily Russia Bull 3X ETF (RUSL), which we traded today, thrust 4.85 to 36.70, or 15%, on 2 million shares. Yandex (YNDX), another Russian stock, up 2.49 to 20.40, or 14%, on over 10 million shares.
Gold ETF's were strong today. The Direxion Daily Jr Gold Miners Bull 3X Shares climbed 2.55 to 21.83, or 13%, on 3.5 million shares.
Chinese stocks were also very strong today. iDreamSky Technology Limited (DSKY) jumped 1.14 to 9.77, or 13%, and Jumei International Holding Limited (JMEI) popped 2.27 to 21.27, or 12%, on 4.6 million shares.
Stepping back and reviewing the hourly chart patterns, the indices spiked up at the opening, consolidated in the morning, ran hard again in the afternoon, and pulled back in the last hour, but still had a very positive session.
Let's see what happens tomorrow.
Good Trading!
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