The stock market indices had a terrific follow-through, gapping up again, and running all day until the last hour when they pulled back on profit taking.
Net on the day, the Dow was up 232.23 at 20,996.12, a new all-time high. The S&P 500 was up 14.46 at 2388.61, 4 points off the high, also a new all-time high. The Nasdaq 100 was up 40.16 at 5548.19, 9 points off the high.
Advance-declines were better than 2 to 1 positive on the New York Stock Exchange, and almost 2 1/2 to 1 positive the Nasdaq. Up/down volume was 2.7 to 1 positive on New York, total volume of 3.9 billion shares traded. The Nasdaq traded just under 1.9 billion shares and had a 3 to 1 positive volume ratio.
TheTechTrader.com board was mostly higher today. Priceline.com (PCLN) was up 47 cents to 1799.09, Alphbabet Inc. (GOOG), making a new all-time high, up 9.54 to 872.30, Apple Inc. (AAPL) 90 cents to 144.54, Amazon.com, Inc. (AMZN) 21 cents to 907.62, and Netflix, Inc. (NFLX), on a China deal, 8.33 to 152.16, reaching a new all-time high today.
Baidu, Inc. (BIDU) climbed 6.98 to 187.01, Facebook, Inc. (FB) gained 1.02 to 146.49, and First Solar, Inc. (FSLR) bounced 46 cents to 27.54.
Tesla Motors, Inc. (TSLA) jumped 5.76 to 313.79.
Biotech’s had a good day. NVIDIA Corporation (NVDA) was International Paper Company (IP) was up 1.79 to 104.74, TG Therapeutics, Inc. (TGTX), one of our swing trades, up 1.60 to 12.00, and bluebird bio, Inc. (BLUE) 2.10 to 87.75.
The Direxion Daily S&P Biotech Bull 3X ETF (LABU) was up 2.85 to 49.84, closing a point off the high.
The VanEck Vectors Semiconductor ETF (SMH) gained 80 cents to 80.55, a new all-time closing high.
Other stocks to the upside included Deere & Company (DE) popped 2.90 to 2.90 to 113.15.
On the downside, the only loser was Kite Pharma, Inc. (KITE), down 1.68 to 80.57.
Checking TheTechTrader.com percent-gain leaderboard, China Auto Logistics Inc. (CALI) climbed 78 cents, or 39%, to 3.45, on 2.9 million shares traded.
Cleantech Solutions International, Inc. (CLNT) exploded 1.06, or 31%, to 4.50, on 3.3 million shares traded. LSB Industries Inc. (LXU) ran 2.26, or 31%, to 9.61, on 4.3 million shares traded.
Epizyme, Inc. (EPZM) closed up 2.55, or 17%, to 17.45, on 1 million shares traded.
The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) jumped 2.34, or 13%, to 19.88, on 13.4 million shares traded, The Direxion Daily Gold Miners Bear 3X ETF (DUST) bounced 3.75, or 13%, to 32.55, on 17 million shares traded.
Among other gainers, Tupperware Brands Corporation (TUP) was up 7.83 to 73.52 and Bitauto Holdings Limited (BITA) 2.96 to 30.71.
Stepping back and reviewing the hourly chart patterns, the indices gapped up and ran all day until the last hour when they gave back a little bit on profit taking.
It’s been a great two days to start the week.
Let’s see what happens tomorrow.
Good Trading!
In using any portion of The Technical Trader, you agree to the Terms and Conditions governing the use of the service as described in this disclaimer. Our disclaimers, policies and terms are subject to change without notice. The Technical Trader (www.thetechtrader.com) is published by Century-Pacific Investments and AdviceTrade, Inc., both of which are publishers. The Web site is maintained by Codexia, LLC. None of these firms, nor Mr. Boxer, is registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority. Each trade mentioned in the diary and other sections of The Technical Trader is hypothetical and is not an actual trade. Mr. Boxer and employees of Century-Pacific, AdviceTrade and Codexia are not allowed to have personal positions in stocks mentioned in the diary and other sections of The Technical Trader. This policy, first announced to subscribers on June 2, 2004, gave Mr. Boxer a deadline that was extended to July 30, 2004 for liquidating any existing personal holdings in stocks mentioned on the site. Our holdings page, in which Mr. Boxer listed his personal positions in stocks mentioned on the site, was removed at that time. The publishers are not permitted to have any financial relationship with companies mentioned on the site. Mr. Boxer may recommend trades of stocks mentioned in the Diary as a consultant to hedge funds, but has agreed not to make such recommendations until after the stock has been posted on The Technical Trader Web site. Mr. Boxer's commentaries, trading ideas and model trades represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Neither we nor Mr. Boxer claim to have any non-public information regarding the companies mentioned in this site. The trade prices that appear on this Web site are based on the average of the real-time bid and real-time ask prices provided by Money.net, except when entered manually by Mr. Boxer should Money.net's feed be temporarily down. There may be a delay between the price as it appears in the diary and the current price that you see from your terminal due to delays in Internet connectivity, quote delays, refresh intervals in the case of the Web-based diary page, data entry errors, and market conditions, and also due to times when Mr. Boxer is not available to make the trade at the moment a previously stated target has been met. Entries may at times be in error due to system or data-entry errors. Hypothetical performance results do not include trading commissions and other execution costs that would be incurred if the trades referenced in the diary or elsewhere on the site were actual trades. Past performance is no guarantee of future results.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.