Great Two Days to the Start of the Week

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!