Harry Boxer
The Technical Trader
The stock market indices had another good session to follow up yesterday's post-FOMC rally. The day started off with a pop to the upside, making new highs, and then they pulled back and consolidated most of the session. In the afternoon they started running again, and late in the day they ran to new highs on the Nasdaq 100 and S&P 500.
Net on the day, the Dow was up 109.14 at 17,265.99. The S&P 500 was up 9.79 at 2011.36, closing at new all-time highs. The Nasdaq 100 was up 29.52 at 4103.08, closing at the highs going away.
Advance-declines were 3 to 2 positive on the New York Stock Exchange, and 3 to 2 positive on Nasdaq. Up/down volume was 17 to 14 positive on New York, with total volume of 3 billion shares. Nasdaq traded 1.7 billion shares, and had a 5 to 3 positive volume ratio.
TheTechTrader.com board was higher today. Priceline.com Incorporated (PCLN) led the way, up 23.40 to 1197.20, Google Inc. (GOOG) up 4.50 to 589.27, Apple Inc. (AAPL) up only 21 cents to 101.79, Amazon.com Inc. (AMZN) 1.00 to 325.00, and Netflix, Inc. (NFLX) 4.48 to 459.01.
Pharmacyclics Inc. (PCYC) ran another 1.55 to 124.97, Tesla Motors, Inc. (TSLA) pushing its way up 2.44 to 263.82, and Vipshop Holdings Limited (VIPS) exploded 6.63 to 206.30.
On the downside, gold stocks got hammered as Royal Gold, Inc. (RGLD) moved below 70, and closed at 68.29, down 1.21.
SolarCity Corporation (SCTY) lost 1.01 to 65.99, FireEye, Inc. (FEYE) dropped 1.7 to 33.68, and MOBILEYE N.V. (MBLY) gave back 3.48 to 46.81.
Checking the TheTechTrader.com percent-gain leaderboard, VIVUS Inc. (VVUS), on a drug approval, popped 48 cents to 4.36, or 12%, om 34 million shares.
EMCORE Corporation (EMKR), on the sale one of their divisions, and raising $150 million in cash, gained 1.11 to 5.40, or 26%, on 8.6 million shares. Vimicro International Corp. (VIMC) climbed 1.12 to 9.35, or 14%, on 4.3 million shares.
Among other gainers, China Mobile Games and Entertainment Group Limited (CMGE) was up 1.81 to 26.87, Ambarella, Inc. (AMBA) up 2.71 to 40.26, JD.com, Inc. (JD) 1.45 to 29.55, Apogee Enterprises, Inc. (APOG) 2.18 to 41.67, GNC Holdings Inc. (GNC) 1.90 to 41.02, and InvenSense, Inc. (INVN) 1.01 to 23.99.
Akamai Technologies, Inc. (AKAM) ran 2.04 to 65.35, NXP Semiconductors NV (NXPI) advanced 2.28 to 73.01, CME Group Inc. (CME) bounced 2.27 to 82.96.
Baidu, Inc. (BIDU) had a big day, up 2.99 to 228.45, and Medivation, Inc. (MDVN) jumped 2.99 to 199.95.
Stepping back and reviewing the hourly chart patterns, the indices gapped at the opening, ran up, and then consolidated for several hours, before running again at the closing, setting new all-time highs on the S&P 500 and approaching its multi-14-year high on the NDX.
Let's see what happens tomorrow.
Good Trading!
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