The stock market indices started off the day with a pop to the upside, and then pulled back quickly to test support. When that held, they ran up for the rest of the day on the S&P 500, but the Nasdaq 100 would not cooperate, although in the afternoon it did pick up some steam. Even though the Nasdaq 100 didn’t confirm the rally high, they managed to finish positive on the day.
Net on the day, the Dow was up 35.54 at 19,251.78, a new all-time high as it finished just a few points off the high. The S&P 500 was up 7.52 at 2212.23, also a new all-time high, closing right at the high for the day. The Nasdaq 100 was up 10.53 at 4788.67, 8 points off the high, but still a positive session.
Advance-declines were 21 to 8 1/2 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on the Nasdaq. Up/down volume was 2 to 1 positive on New York, total volume of 3.8 billion shares traded. The Nasdaq traded just under 2 billion shares and had a 2 to 1 positive volume ratio.
TheTechTrader.com board was mostly green again today. Priceline.com (PCLN) was up 5.06 to 1504.82, Apple Inc. (AAPL) up 81 cents to 109.92, Amazon.com, Inc. (AMZN) up 5.36 to 764.72, and Netflix, Inc. (NFLX) gained 5.41 to 124.57, which Alphabet Inc. (GOOG) dropped 3.41 to 759.11.
Baidu, Inc. (BIDU) gained 85 cents to 165.17, Facebook, Inc. (FB) was down 12 cents to 117.31, and First Solar, Inc. (FSLR) down 30 cents to 32.05.
Tesla Motors, Inc. (TSLA) lost nearly a dollar, down 95 cents to 185.85.
Other stocks to the upside included bluebird bio, Inc. (BLUE), a swing trade of ours, led the way, up 6.80 to 78.95 as is Clovis Oncology Inc (CLVS), up 2.24 to 39.48, NVIDIA Corporation (NVDA), another favorite of ours, 1.51 to 93.39, swing trade Terex Corporation (TEX), up 1.25 to 31.09, and Zynerba Pharmaceuticals, Inc. (ZYNE) 1.28 to 14.46.
In addition, the Direxion Daily S&P Biotech Bull 3X ETF (LABU) popped 2.04 to 40.82.
Acacia Communications, Inc. (ACIA) backed over 70.00 to 70.14, up 1.08.
Checking TheTechTrader.com percent-gain leaderboard, Neovasc Inc. (NVCN), a biotech stock, exploded 1.00, or 70.4%, to 2.42, but reaching as high as 3.34, on 108 million shares traded, 5200% volume than average. Crossroads Systems, Inc. (CRDS) advanced 1.12, or 26%, to 5.45. Avianca Holdings S.A. (AVH) bounced 1.25, or 17 1/2%, to 8.40.
Francesca's Holdings Corporation (FRAN), a restaurant chain, and another successful day trade for The Tech Traders today, ran 4.47, or 29%, to 20.01, on 7.1 million shares traded. Kornit Digital Ltd. (KRNT) closed up 1.40, or 12%, to 13.40. Spark Therapeutics, Inc. (ONCE) exploded 6.98, or 14%, to 57.56, on nearly a million shares traded.
Stepping back and reviewing the hourly chart patterns, the indices popped at the opening, pulled right back, and then exploded. The Nasdaq 100 and S&P 500 went in different direction until midday when they both started to move higher to close positive for the day.
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 trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold price sits at all-time highs above $2,230, US PCE eyed
Gold price hit all-time highs at $2,236 on Thursday to finish Q1 2024 with a bang. Most major world markets, including the US are closed due to Holy Friday, leaving volatility around Gold price highly subdued. US PCE inflation and Powell are awaited.
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.