Harry Boxer
The Technical Trader
The stock market indices had a solid session today, and a very strong follow-through rally after a strong move down on the Nasdaq 100, after the S&P 500 failed to confirm. They both turned around and had a very strong surge back, taking the Nasdaq 100 from 4179 to 4252, and the S&P 500 snapped back from 1882 to 1907. They did pull back in the afternoon, but snapped back in the last hour, finishing with a very big gain on the day.
Net on the day, the Dow was up 282.01 at 16,167.23. The S&P 500 was up 26.55 to 1903.63. The Nasdaq 100 was up 37.32 to 4233.85.
Advance-declines were more than 5 to 1 positive on New York Stock Exchange and 20 to 8 positive on Nasdaq. Up/down volume was 11 to 1 positive on New York, and more than 3.9 billion shares traded. The Nasdaq traded just under 2 billion shares and had a better than 3 to 1 positive volume ratio.
TheTechTrader.com board was mixed, but mostly positive. Priceline Inc. (PCLN) was up 13.61 to 1111.54, Google Inc. (GOOG) up 1.37 to 713.04, Apple Inc. (AAPL) up just 55 cents to 99.99, Amazon.com Inc. (AMZN) 4.72 to 601.25, but Netflix, Inc. (NFLX) was down 1.29 to 97.83.
Tesla Motors, Inc. (TSLA) lost 2.82 to 193.56 and Baidu, Inc. (BIDU) gave back just 46 cents to 167.08. Facebook, Inc. (FB) popped just 33 cents to 97.34.
In addition, First Solar, Inc. (FSLR) had a big day as the solar group surged today, up 3.26 to 67.40, Canadian Solar Inc. (CSIQ) up 77 cents to 20.16, and SolarCity Corporation (SCTY) 3.62 to 34.24.
On the downside point-plus loser included Nevro Corp. (NVRO), down 2.15 to 66.00, and NewLink Genetics Corporation (NLNK) down 1.09 to 26.38.
Checking the TheTechTrader.com percent-gain leaderboard, SGOCO Group, Ltd. (SGOC) gained 43 cents to 3.15, or 16%, on 5.6 million shares. Sprint Corporation (S) advanced 47 cents to 2.99, or 19%, on 59 million shares. AcelRx Pharmaceuticals, Inc. (ACRX) climbed 56 cents to 3.69, or 18%, on 1.5 million shares. Cobalt International Energy, Inc. (CIE) bounced 54 cents to 3.60, or 18%, on 7.1 million shares.
TerraForm Power, Inc. (TERP) shot straight up to 10.28, before closing up 1.05 to 9.77, or 12%, on 4.1 million shares.
Terex Corporation (TEX), on a takeover, got all the on way up to 23.97, before pulling back and closing up 5.49 to 20.50, or 37%, on 19.4 million shares. Swift Transportation Company (SWFT) ran 2.89 to 16.56, or 21%, on 16 million shares. Weight Watchers International, Inc. (WTW) jumped 2.20 to 13.32, or 20%, on 10 million shares. II-VI Incorporated (IIVI) closed up 2.53 to 19.53, or 15%, on 1 million shares. Applied Optoelectronics, Inc. (AAOI) bounced 1.83 to 15.14, or 14%.
Gold ETF's were strong today. The Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG) was up 3.33 to 28.00, or 13%, and Direxion Daily Gold Miners Bull 3X ETF (NUGT) up 2.94 to 24.54, or 14%.
Stepping back and reviewing the hourly chart patterns, the indices started the day out with a little pop to the upside, and then a sharp selloff, but that was quickly reversed when the S&P 500 failed to make lower lows. They had a very strong rally after the pullback, and a late pop to finish with a very solid session.
Let's see how it goes tomorrow. Good Trading!
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