Harry Boxer
The Technical Trader
The stock market indices started the week off with a bang as they gapped up, ran all morning, consolidated midday, ran again in the afternoon, but backed off in the last hour to pare back the gains.
Net on the day, the Dow was up 208.63 at 18,035.93, about 58 points off the high. The S&P 500 was up 19.22 at 2100.40, 3 points off the high. The Nasdaq 100 was up 65.60 at 4417.40, 6 points off the high.
Advance-declines were 3 1/2 to 1 positive on New York Stock Exchange and 9 3/4 to 4 3/4 on Nasdaq. Up/down volume was 2 to 1 positive on New York, with total volume of 3 billion shares. Nasdaq traded 1.5 billion shares, and had a 2 1/2 to 1 positive volume ratio.
TheTechTrader.com board was was mostly green. Priceline.com (PCLN) was up 3.89 to 1191.42, but Google Inc. (GOOG) led the way, up 11.33 to 535.38, Apple Inc. (AAPL) up 2.85 to 127.60, Amazon.com Inc. (AMZN) 13.95 to 389.51, but Netflix, Inc. (NFLX) dropped 4.16 to 567.39.
In a strong cyber-security sector, Splunk, Inc. (SPLK) was up 1.33 to 63.74 in a strong cyber-security sector, TASER International Inc. (TASR), up 1.97 to 30.37 on a major breakout today, FireEye, Inc. (FEYE) up 1.59 to 42.43, and Cyber-Ark Software Ltd. (CYBR) 1.94 to 62.64.
Celldex Therapeutics, Inc. (CLDX) had a good day, up 1.33 to 28.09, and Ambarella, Inc. (AMBA) climbed 1.72 to 74.56.
On the downside, the only point-plus losers on the main board were, Tesla Motors, Inc. (TSLA), down 1.52 to 205.27, and NewLink Genetics Corporation (NLNK), in a weak biotech sector, down 1.07 to 52.64.
Checking the TheTechTrader.com percent-gain leaderboard, low-priced Nymox Pharmaceutical Corporation (NYMX) made a major move up to 1.74, before pulling back and closing at 1.62, up 63 cents, or 63%, on 11.7 million shares. Genetic Technologies Limited (GENE) ran to 6.00 early on, closing at 5.19, up 96 cents, or 23%, on 15 million shares.
Biocept, Inc. (BIOC) gained 1.01 to 3.36, or 43%, on 15 million shares. Novogen Limited (NVGN) climbed 1.60 to 9.23, or 21%, on 2.5 million shares.
Vimicro International Corp. (VIMC) jumped 2.07 to 12.63, or 20%, on 2.5 million shares. Voltari Corporation (VLTC) worked its way up 1.71 to 10.38, or 20%, on 9.4 million shares.
Among other gainers, Rovi Corporation (ROVI) was up 1.52 to 19.11, Momenta Pharmaceuticals Inc. (MNTA) up 1.43 to 19.00, Aduro Biotech Inc. (ADRO), also in the biotech sector, up 2.80 to 42.80, Eagle Pharmaceuticals Inc. (EGRX) 3.67 to 59.11, swing trade Paycom Software, Inc. (PAYC) 2.09 to 32.20, and Hasbro Inc. (HAS) 8.27 to 74.16.
Stepping back and reviewing the hourly chart patterns, the indices had a very strong surge in the morning, stalled midday, snapped back in the afternoon, making new highs on the Nasdaq 100, but couldn't be confirmed by the S&P 500, and sold off in the last hour. Nevertheless, it was a strong start to the week.
Let's see what happens tomorrow.
Good Trading!
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