Harry Boxer
The Technical Trader
The stock market indices started with a pop and then pulled back sharply. They looked like they could roll over, but when support held they came on strongly, and retested the highs. When they couldn't get through they backed off, but when the pullback wasn't that steep as well, they held support. They came on again, broke through the highs, and closed at the highs for the day, week, and entire rally, since the lows, and we had a big day on the market.
Net on the day, the Dow was up 127.51 at 16,805.41, 6 points off its high. The S&P 500 was up 13.76 at 1964.58, under a point from the high. The Nasdaq 100 was up 29.75 at 4042.02 3 points off the high.
Advance-declines were 19 to 11 1/2 positive on the New York Stock Exchange, and 15 to 11 positive on Nasdaq. Up/down volume was 2 to 1 positive on New York, with total volume of 2.9 billion shares. Nasdaq traded 1.5 billion shares, and had a 2 to 1 positive volume ratio.
TheTechTrader.com board was mixed, but there were some big winners today. Priceline.com Incorporated (PCLN) was up 7.45 to 1138.43, Apple Inc. (AAPL) was up on 39 cents to 105.22, and Netflix, Inc. (NFLX) up 1.98 to 385.02. Google Inc. (GOOG), however, gave back 4.20 to 539.78, and Amazon.com Inc. (AMZN) lost 26.12 to 287.06.
Pharmacyclics Inc. (PCYC) gained 2.36 to 123.68, Tesla Motors, Inc. (TSLA) closed flat even, and Vipshop Holdings Limited (VIPS) thrust 3.23 to 213.59.
Agios Pharmaceuticals, Inc. (AGIO) was up 4.33 to 80.62, Cyber-Ark Software Ltd. (CYBR) up 1.03 to 30.24, and Splunk, Inc. (SPLK) 3.41 to 63.24.
Checking the TheTechTrader.com percent-gain leaderboard, IsoRay, Inc. (ISR) popped 45 cents to 1.89, or 31%, on 8.8 million shares, trading as high as 2.03 today.
Maxwell Technologies, Inc. (MXWL) bounced 76 cents to 10.64, or 8%, on 1.6 million shares.
Regulus Therapeutics Inc. (RGLS) climbed 2.79 to 17.33, or 19%, on 5.5 million shares. Gigamon Inc. (GIMO) gained 1.66 to 13.25, or 14%, on 3 million shares. SodaStream International Ltd. (SODA), on a deal with Pepsi, spike to 26.26, and closed at 24.45, up 3.26, or 15%, on 8.9 million shares.
RealPage, Inc. (RP), on takeover talks, advanced 2.23 to 18.35, or 14%, on 1 million shares. The Spectranetics Corporation (SPNC) rose 3.67 to 31.00, or 13%, on 2.3 million shares.
Among other gainers, Sears Holdings Corporation (SHLD) was up 3.02 to 38.97, Constant Contact, Inc. (CTCT) up 2.85 to 32.01, Qlik Technologies, Inc. (QLIK) 1.84 to 26.46, KLA-Tencor Corporation (KLAC) 4.90 to 75.90, FLIR Systems, Inc. (FLIR) 1.93 to 32.04, and Isis Pharmaceuticals, Inc. (ISIS) 2.63 to 45.00.
Edwards Lifesciences Corp. (EW) jumped 11.57 to 116.76.
Stepping back and reviewing the hourly chart patterns, the indices popped, dropped, went in multiple waves in rising channels, and closed at the highs for the day, week, and rally going away.
It was a big week for Wall Street, and a beautiful snapback from that big drop they had this week.
It's a very resilient market at this point, although we closed near key overhead resistance, and with this long move here and also getting overbought, they are likely to get some backing and filling coming in this zone.
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