Harry Boxer
The Technical Trader
The stock market indices had a beautiful, turn-around Tuesday after gapping up at the opening, and then pulling back in falling wedges. The S&P 500 held support at 2070, and then rocketed all day. Late in the afternoon they reached their session peak around 2096 S&P 500, before flagging into the close, consolidating bullishly.
Net on the day, the Dow was up 189.68 at 17,630.27. The S&P 500 was up 25.61 at 2093.25. The Nasdaq 100, which made nominal new lows down around 4506, exploded to 4568, a 62-point rally, and backed off to 4560.23, up 41.14.
Advance-declines were 3 to 1 positive on New York Stock Exchange and 17 to 10 positive on Nasdaq. Up/down volume was 7 to 1 positive on New York, with total volume of 4 billion shares. Nasdaq traded 2 billion shares, and had a 3 to 1 negative volume ratio.
TheTechTrader.com board was very green today. Leading the way, Priceline (PCLN) was up 22.01 to 1208.09, Google Inc. (GOOG) up just 74 cents to 628.00, Apple Inc. (AAPL) 61 cents to 123.28, and Netflix, Inc. (NFLX) 47 cents to 106.90. Amazon.com Inc. (AMZN), however, dropped 5.38 to 526.03.
Tesla Motors, Inc. (TSLA) jumped a whopping 11.81 to 264.82.
Other point plus gainers included Intra-Cellular Therapies, Inc. (ITCI), up 2.70 to 31.22, Fitbit Inc. (FIT) up 1.54 to 45.47, SolarCity Corporation (SCTY) 1.34 to 56.03, VASCO Data Security International Inc. (VDSI) 1.43 to 26.55, NewLink Genetics Corporation (NLNK) 2.84 to 53.81, Rapid7, Inc. (RPD) 1.32 to 25.02, GoPro, Inc. (GPRO) 1.15 to 62.42, and Facebook, Inc. (FB) 1.12 to 95.29.
On the downside, Esperion Therapeutics, Inc. (ESPR) was down 2.64 to 69.01, and Sorrento Therapeutics, Inc. (SRNE) lost 3.29 to 20.41, trading as low as 19.03 at one point.
Checking the TheTechTrader.com percent-gain leaderboard, NTELOS Holdings Corp. (NTLS) worked its way up 78 cents to 6.15, or 15%, on 2.8 million shares.
ICON Public Limited Company (ICLR) jumped 10.25 to 75.20, or 16%, on 2.7 million shares. Intrexon Corporation (XON) climbed 6.03 to 60.60, or 11%, on 2 million shares.
MicroStrategy Inc. (MSTR) rose 23.84 to 202.01, reaching as high as 207.27.
Among other gainers, Aegerion Pharmaceuticals, Inc. (AEGR) was up 1.82 to 20.06, Masco Corporation (MAS) up 2.47 to 25.63, Cadence Design Systems Inc. (CDNS) 1.82 to 20.79, and Prothena Corporation plc (PRTA) 5.93 to 68.70.
Stepping back and reviewing the hourly chart patterns, after an early pop and a brief pullback in falling wedge-type pattern, the indices rallied all afternoon until the last hour when they stalled to consolidate. But it was a great day for Wall Street.
Let's see how it goes tomorrow.
Good Trading!
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