Harry Boxer
The Technical Trader
The stock market indices started the week out with a bang, especially for many of the stocks we follow. The Nasdaq 100 had a good day, but the Dow and S&P 500 didn't quite cooperate, and they closed mixed on the day.
The day started out with a pop to the upside, and then a pullback that was successful. When they couldn't take out the highs, and then came down midday hard, they held support at 1995 S&P 500 and 4078 NDX. That resulted in a rally back that took the NDX all the way back to the session highs, but the S&P 500 did not, and they closed mixed.
Net on the day, the Dow was down 30.89 at 17,067.56, 58 points off its low. The S&P 500 was up 1.09 at 20. 02.28, 8 points off the low. The Nasdaq 100 up 13.25 at 4095.81, closing pennies from the high.
Advance-declines were negative by 100 issues on the New York Stock Exchange, and positive by 500 issues on Nasdaq. Up/down volume was 10 to 9 negative on New York, with total volume of 573 million shares. Nasdaq traded 1.8 billion shares, and had a nearly 2 to 1 positive volume ratio.
TheTechTrader.com board there were many point-plus gainer, including Priceline.com Incorporated (PCLN) up 10.59 to 1254.90, Google Inc. (GOOG) up 577.33, Apple Inc. (AAPL) up on 80 cents to 103.30, and Amazon.comInc. (AMZN) 3.34 to 342.38. Netflix, Inc. (NFLX) lost 1.04 to 476.60.
Tesla Motors, Inc. (TSLA) ran a whopping 14.42 to 284.12, and Vipshop Holdings Limited (VIPS) thrust 10.39 to 207.02.
Canadian Solar Inc. (CSIQ) did very well today, up 2.90 to 38.34. Twitter, Inc. was up 1.27 to 51.02, Facebook, Inc. (FB) up 1.86 to 76.68, FireEye, Inc. (FEYE) 2.64 to 33.78, and GoPro, Inc. (GPRO), one of our swing trades, 2.14 to 53.94, and reached as high as 55.35 earlier in the day.
Checking the TheTechTrader.com percent-gain leaderboard, Intellicheck Mobilisa, Inc. (IDN), on a new contract, advanced 94 cents to 5.80, or 19%. 1-800-Flowers.com Inc. (FLWS), on a merger, climbed 83 cents to 5.8, or 16%. Highpower International, Inc. (HPJ) popped 91 cents to 7.34, or 14%, on 1.2 million shares.
Image Sensing Systems, Inc. (ISNS) soars 2.96 to 6.67, or 80%, on 16 million shares, 4860% more volume than average, and reached a high of 6.99 near the close. Adamis Pharmaceuticals Corporation (ADMP) gained 1.01 to 5.03, or 26%.
FormFactor Inc. (FORM) climbed 1.37 to 8.41, or 19%, on 1.5 million shares. China HG Real Estate Inc. (HGSH), after reaching 10.50, pulled back to 8.85, up 1.32, or 17%, on 2.7 million shares.
Digital Ally Inc. (DGLY) was a monster, running up to 33.59 before pulling back to 33.41, up 14.75, or 79%, on 20.7 million shares.
Among other gainers, TrueCar, Inc. (TRUE) was up 3.18 to 23.85, TASER International Inc. (TASR) up 1.87 to 17.54, El Pollo Loco Holdings, Inc. (LOCO) 3.71 to 36.02, Splunk, Inc. (SPLK) 6.00 to 59.93, and ACADIA Pharmaceuticals Inc. (ACAD) 2.63 to 26.61.
Super Micro Computer, Inc. (SMCI) bounced 2.51 to 27.00, and ZELTIQ Aesthetics, Inc. (ZLTQ) jumped 2.15 to 23.16.
Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) ran 1.30 to 11.53.
Stepping back and reviewing the hourly chart patterns, the indices were up early, came down to support, bounced, rolled over, and then took out support, holding secondary support before bouncing late in the afternoon, and closing mixed on the session.
Let's see what happens tomorrow.
Good Trading!
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