Harry Boxer
The Technical Trader
The stock market indices started off the week on a strong note. They gapped up at the opening, then went into the morning in consolidation-type wedges. They moved up in the afternoon, made new highs on the S&P 500, but not so on the Nasdaq 100. The Nasdaq 100 tried to breakout above 4383-4 zone several times, but couldn't. They held onto most of their gains, closing only a couple points off that level. The S&P 500, which got up to nearly 2089, closed at 2086.
Net on the day, the Dow was up 264.65 at 17,976.31, 32 points off the high. The S&P 500 was up 25.22 at 2086.24. The Nasdaq 100 was up 49.96 at 4382.82.
Advance-declines were still 23 to 8 positive on the New York Stock Exchange, and 9 to 4 positive on Nasdaq. Up/down volume was 5 to 1 positive on New York, with total volume of a little more than 2 3/4 billion shares. Nasdaq traded close to 1 3/4 billion shares, and had a 2 to 1 positive volume ratio.
TheTechTrader.com board was strong. There were a lot of point-plus gainers. Leading the way, Priceline.com Incorporated (PCLN) was up 14.64 to 1149.83, up 3.69 to 552.03, Google Inc. (GOOG) up 3.69 to 552.03, Apple Inc. (AAPL) 3.12 to 126.37, Amazon.com Inc. (AMZN) 4.03 to 374.59, and Netflix, Inc. (NFLX) 7 up.80 422.57.
So you can see that the Nasdaq 100 generals did well today.
Tesla Motors, Inc. (TSLA) gained 5.57 to 190.57. NXP Semiconductors NV (NXPI) ran 2.51 to 102.43.
Other gainers included Research Frontiers Inc. (REFR), a new swing trade, up 1.34 to 6.53, on 1.5 million shares, 4900% more volume than usual. That's huge volume for that stock, and potentially a strong breakout day today.
Ambarella, Inc. (AMBA), reaching a new high today, was up to 74.61, Cyber-Ark Software Ltd. (CYBR), in a strong security group, up 2.59 to 54.83, First Solar, Inc. (FSLR) up 1.08 to 60.69, Neurocrine Biosciences Inc. (NBIX), in a strong biotech sector, 2.75 to 41.53, Retrophin, Inc. (RTRX), another biotech, 2.29 to 24.16, or 10%, on nearly 1 million shares.
Checking the TheTechTrader.com percent-gain leaderboard, Solar3D, Inc. (SLTD) popped49 cents to 5.07, or 10%, on 1.34 million shares. Unilife Corporation (UNIS) snapped back 28 cents to 3.94, or 8%, on 2 million shares.
Low-priced Genetic Technologies Limited (GENE) advanced 1.24 to 4.94, or 33 1/2%, on 12.6 million shares.
Among other gainers, Horizon Pharma, Inc. (HZNP) was up 3.97 to 25.78, NewLink Genetics Corporation (NLNK), one of our favorites, up 4.14 to 56.40, Analog Devices, Inc. (ADI), in a strong semiconductor sector, up 5.97 to 64.81, Intrexon Corporation (XON) 3.30 to 46.30, Cempra, Inc. (CEMP), anther biotech, 2.93 to 34.93, and Ultragenyx Pharmaceutical Inc. (RARE) 4.39 to 60.95.
Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) bounced 1.13 to 12.11.
Stepping back and reviewing the hourly chart patterns, after a strong surge at the opening, and a gap, the indices coiled bullishly, and ran in the afternoon. Despite the three new highs on the S&P 500, they were not confirmed by the Nasdaq 100. Still, it was a very strong close for both indices, and a good way to start the week.
Let's see what happens tomorrow.
Good Trading!
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