Harry Boxer
The Technical Trader
The stock market had an incredible session. The indices gapped up, pulled back in consolidated patterns holding support, and then ran up in a 5-wave advance all day. Only a pullback in the last 10 minutes on profit-taking prevented the indices from closing at the session highs.
Net on the day, the Dow was up 139.55 at 17,868.76, 22 points off the high. The S&P 500 was up 21.85 at 2068.59, 2 points off the high. The Nasdaq 100 was up 65.07 at 4281.16, 5 points off its high.
Advance-declines weren't impressive, but did manage to get back in the plus column by 400 issues on the New York Stock Exchange, and 600 issues on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 3.7 billion shares. Nasdaq traded over 1.75 billion shares, and had a 3 to 1 positive volume ratio.
TheTechTrader.com board was mixed. Leading the way, Priceline.com Incorporated (PCLN) was up 24.47 to 1057.62, Google Inc. (GOOG) up 9.11 to 536.94, Apple Inc. (AAPL) at a new all-time high up 2.30 to 122.02, Amazon.com Inc. (AMZN) 2.43 to 372.99, and Netflix, Inc. (NFLX) a whopping 10.89 to 453.95.
Pharmacyclics Inc. (PCYC) gained 2.10 to 164.50, but Tesla Motors, Inc. (TSLA) lost 1.19 to 216.29, and Vipshop Holdings Limited (VIPS) dropped 63 cents to 21.42.
Arista Networks, Inc. (ANET) jumped up 3.07 to 63.07, and Regulus Therapeutics Inc. (RGLS) ran 1.10 to 16.74.
There were strong moves today in the cyber-security sector. Cyber-Ark Software Ltd. (CYBR) gained 4.81 to 40.90. First Solar, Inc. (FSLR) on a deal with AAPL, closed just 15 cents off its high, up 2.21 to 48.54.
On the downside, point-plus losers included Splunk, Inc. (SPLK), which gave back 1.49 to 48.99, and Twitter, Inc. (TWTR), off 1.06 to 46.26.
Checking the TheTechTrader.com percent-gain leaderboard, the winner was Anthera Pharmaceuticals, Inc. (ANTH), up 65 cents to 3.25, or 25%, on 15.8 million shares. Amkor
Technology, Inc. (AMKR) thrust 1.75 to 8.80, or 25%, on 7 million shares. Lakeland Industries Inc. (LAKE) spiked to 9.16 before pulling back and closing up 93 cents to 9.05, or 11 1/2%.
Silver Spring Networks, Inc. (SSNI) ran 1.25 to 8.48, or 17%, on 1.1 million shares.
Among other gainers, Intrexon Corporation (XON) was up 4.11 to 34.27, Qualys, Inc. (QLYS) up 6.09 to 46.94, Sealed Air Corporation (SEE) 4.34 to 45.27, Agios Pharmaceuticals, Inc. (AGIO) 11.05 to 117.01, Inphi Corporation (IPHI) 1.64 to 20.11, and Micron Technology Inc. (MU) 2.74 to 31.09.
The ExOne Company (XONE) ran 1.23 to 15.82, Cavium, Inc. (CAVM) climbed 4.07 to 61.23, and ANI Pharmaceuticals, Inc. (ANIP) advanced 4.16 to 63.44.
The ProShares UltraShort DJ-UBS Crude Oil (SCO) gained 5.62 to 76.08.
Stepping back and reviewing the hourly chart patterns, the indices gapped up at the opening, pulled back, consolidated, and then ran up all session and had a beautiful 5-wave advance to close very, very positive, technical day.
Let's see what happens tomorrow.
Good Trading!
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