Narrowly Volatile Market

The stock market indices had volatile, but narrowly volatile, mixed session, with the FOMC announcement today, and ended mixed on the day after a late rally.

The day started out with some backing and filling, and choppiness on the Nasdaq 100. The S&P 500 dipped, but when non-confirmed by the Nasdaq 100, they rallied right after the FOMC announced that the policy will continue to remain as it is now, they pulled back and tested support. When that held they rallied again, making new highs at 4393 on the Nasdaq 100, but couldn't get to 2100 on the S&P 500 twice, and then backed off just before the close, until the last five minutes when it popped again

Net on the day, the Dow was down 17.73 at 18,029.85, although the low was 17, 992.20, about 47 points off the low. The S&P 500 was up .68 at 2099.66, within a point of the high, 7 points off the low and near the high. The Nasdaq 100 was up 5.57 at 4390.91, 16 points off the low and 3 points off the high.

Advance-declines were 1 3/4 to 14 negative on the New York Stock Exchange, and 14 to 13 negative on Nasdaq. Up/down volume was flat on New York, with total volume of 3 1/4 billion shares. Nasdaq traded over 1 2/3 billion shares, and had a 86 79 positive volume ratio.

TheTechTrader.com board was mixed. Priceline.com Incorporated (PCLN) was up 5.57 to 4390.91, Apple Inc. (AAPL) up 88 cents to 128.71, and Netflix, Inc. (NFLX) up 5.10 to 475.06.

Pharmacyclics Inc. (PCYC) ran 3.03 to 170.21, Tesla Motors, Inc. (TSLA) gained just 11 cents to 204.46, and Vipshop Holdings Limited (VIPS) popped 65 cents to 25.76.

Splunk, Inc. (SPLK) was up 2.07 to 65.90, NXP Semiconductors NV (NXPI) up 1.64 to 85.36, Cyber-Ark Software Ltd. (CYBR) 1.46 to 60.32, Facebook, Inc. (FB) 1.11 to 76.71, Arista Networks, Inc. (ANET) 1.19 to 65.18, Royal Gold, Inc. (RGLD), in a strong sector with some of the ETF's, gained 1.61 to 71.61.

Advaxis, Inc. (ADXS), one of our swing trade favorites, jumped 1.09 to 8.59, and Achillion Pharmaceuticals, Inc. (ACHN) ran 91 cents to 12.10. On the downside, point-plus losers included Google Inc. (GOOG), down 3.14 to 539.70, and Amazon.com Inc. (AMZN) down 2.06 to 373.37.

Checking the TheTechTrader.com percent-gain leaderboard, Anthera Pharmaceuticals, Inc. (ANTH) advanced 73 cents to 4.72, or 18%, on 3.7 million shares. Capnia, Inc. (CAPN) exploded 3.53 to 5.96, or 145%, on 7.4 million shares, and ran as high as 6.80 earlier in the day, 32,320% more volume than average. Angie's List, Inc. (ANGI) gained 2.91 to 7.80, or 59%, on 26 million shares, 2900% more volume than average.

Eagle Pharmaceuticals Inc. (EGRX) went ballistic today, up 10.65 to 36.75, or 41%, on 1.8 million shares. Potbelly Corporation (PBPB), a restaurant chain, up 2.36 to 16.56, or 17%, on 3.5 million shares. Boston Scientific Corporation (BSX), one of our favorites, up 1.84 to 16.68, or 12%, on 55.4 million shares on a settlement with Johnson & Johnson.

Among other gainers, Jack in the Box Inc. (JACK), on strong earnings, was up 6.54 to 94.70, El Pollo Loco Holdings, Inc. (LOCO) up 1.30 to 25.59, Juno Therapeutics Inc. (JUNO) 2.58 to 42.87, Arris Enterprises, Inc. (ARRS) 1.35 to 27.81, ANI Pharmaceuticals, Inc. (ANIP) 2.99 to 66.03, Sinclair Broadcast Group, Inc. (SBGI) 1.26 to 28.05, and Virgin America Inc. (VA) 1.49 to 35.71 rounded out the gainers today.

ProShares UltraShort DJ-UBS Crude Oil (SCO), which we traded, climbed 3.94 to 72.89, although it traded as high as 73.40 earlier in the day.

Stepping back and reviewing the hourly chart patterns, the indices were choppy in the morning, popped on the FOMC, but pulled back, held later in the session to close mixed on the day.

Let's see what happens tomorrow.

Good Trading!