Strong, Positive Close

The stock market indices started the day with a move to the downside, caused by the OPEC failures, but support held at 4530 Nasdaq 100 and 2074 S&P 500. They then embarked on a very strong rally, taking the Nasdaq 100 40 points straight up, and the S&P 500 up about 16 points. They backed and filled most of the day with the S&P 500 moving higher, while Nasdaq 100 moved sideways, with Apple Inc. (AAPL) and Netflix, Inc. (NFLX) pressuring the market. At the end of the day as Netflix came on strong, and the market came up to close strong and very positive. However, in after hours NFLX got hammered as well as several other stocks.

Net on the day, the Dow closed over 18,000 for the first time in a very long time, up 106.70 at 18,004.16. The S&P 500 was up 13.61 at 2094.34. The Nasdaq 100 was up 26.15 at 4569.31.

Advance-declines were 22 to 8 positive on the New York Stock Exchange, and 2 to 1 positive on the Nasdaq. Up/down volume was 3 to 1 positive on New York, total volume of 3 1/3 billion shares traded. The Nasdaq traded 1.6 billion shares and had a 5 to 3 positive volume ratio.

TheTechTrader.com board was mixed narrowly. Priceline.com (PCLN) was up 21.47 to 1353.37, Google Inc. (GOOG) up 7.61 to 766.61, Amazon.com Inc. (AMZN) up 9.46 to 635.35, but Apple Inc. (AAPL) was down 2.37 to 107.48 and Netflix, Inc. (NFLX) down 3.11 to 108.40 and down to 93.00 in after hours.

Baidu, Inc. (BIDU) was also down 28 cents to 192.94. Facebook, Inc. (FB) gained 81 cents to 110.45, and First Solar, Inc. (FSLR) gained 77 cents to 60.36.

Tesla Motors, Inc. (TSLA) dropped 63 cents to 253.88.

Shutterstock, Inc. (SSTK) jumped 1.13 to 39.90.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) bounced 1.53 to 36.74.

Most stocks were up less than a point today.

Checking the TheTechTrader.com percent-gain leaderboard, Amedica Corporation (AMDA) popped 39 cents to 2.02, or 24%, on 11 million shares, reaching as high as 2.80 in the morning. Capstone Turbine Corp. (CPST) climbed 50 cents to 2.51, or 25%, on 2.1 million shares. Repros Therapeutics Inc. (RPRX) advanced 52 cents to 2.70, or 23%, on 1.8 million shares. Christopher & Banks Corporation (CBK) ran 37 cents to 2.69, or 16%, on 1.2 million shares. Energy Transfer Equity, L.P. (ETE) closed up 90 cents to 9.85, or 10%, on 63.7 million shares. Exact Sciences Corporation (EXAS) gained 44 cents to 7.80, on 2.5 million shares.

Teck Resources Limited (TCK) climbed 1.12 to 9.62, or 13.4%, on 19.8 million shares.

Among other gainers, Argos Therapeutics, Inc. (ARGS) was up 1.47 to 12.44, Celator Pharmaceuticals, Inc. (CPXX) up 1.12 to 16.17 after being all over the place today, and Sarepta Therapeutics, Inc. (SRPT) up 1.33 to 22.43.

Stepping back and reviewing the hourly chart patterns, after gapping lower and then moving sharply higher, the indices were back and forth on the Nasdaq 100, and then firmed up late in the day. The S&P 500 ran up in an angled, rising channel all day, holding up very nicely, and showing a very impressive gain on the session.

Let’s see what happens tomorrow.

Good Trading!

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