Harry Boxer
The Technical Trader
The stock market indices ended the week with a bang. Even the opening decline broke minor support, and then came back with a roar and rallied all day.
Net on the day, the Dow was up 154.67 at 18,140.44, close to its high for the day. The S&P 500 was up 12.85 at 2110.30, within pennies off its high. The Nasdaq 100 was up 31.19 at 4443.05, just a point off the high.
Advance-declines were 2 1/2 to 1 positive on the New York Stock Exchange, and 7 to 6 positive on Nasdaq. Up/down volume was better than 2 to 1 positive on New York, with total volume of 3.2 billion shares. Nasdaq traded over 1.7 billion shares, and had a 11 to 6 positive volume ratio.
TheTechTrader.com board was mostly green, however, Priceline.com Incorporated (PCLN) lost 1.82 to 1216.23, and Google Inc. (GlOOG) dropped 3.92 to 538.95. Apple Inc. (AAPL), closing at the high for the day, and new, all-time high, was up 1.04 to 129.49, Amazon.com Inc. (AMZN) up 4.67 to 383.66, and Netflix, Inc. (NFLX) 3.60 to 478.20.
Pharmacyclics Inc. (PCYC) exploded 6.22 to 177.56, Tesla Motors, Inc. (TSLA) spiked 5.40 to 217.11, and Vipshop Holdings Limited (VIPS) up just 4 cents to 25.64.
Cyber-Ark Software Ltd. (CYBR), the winner today, was up 6.07 to 70.35, FireEye, Inc. (FEYE) up 1.88 to 46.15, and Neurocrine Biosciences Inc. (NBIX), one of our swing trades, up 1.98 to 39.40.
Other stocks on the downside included NewLink Genetics Corporation (NLNK), down 1.28 to 39.75.
Checking the TheTechTrader.com percent-gain leaderboard, Aoxing Pharmaceutical Company, Inc. (AXN), a Chinese company, popped 77 cents to 1.95, or 65%, on 9.4 million shares. National Bank of Greece SA (NBG) on positive results from the Greek negotiations, up 35 cents to 1.96, or 22%, on 74 million shares. Stereotaxis Inc. (STXS) gained 45 cents to 2.65, or 20%, on 1 million shares. Ariad Pharmaceuticals Inc. (ARIA) climbed 79 cents to 8.06, or 11%, on 23 million shares.
Sizmek Inc. (SZMK) gained 1.07 to 7.87 or 16%, on nearly a million shares.
Thinly traded Egalet Corporation (EGLT) gained 3.29 to 14.50, or 29%, on 262,522 shares traded. InContact Inc. (SAAS) broke out of a strong base, up 1.43 to 11.24, or 15%, on 3.7 million shares. GTT Communications, Inc. (GTT), which we traded, ran 1.78 to 14.12, or 14%. AMN Healthcare Services Inc. (AHS) advanced 2.34 to 22.51, or 12%, on 3 million shares.
The VelocityShares 3x Long Natural Gas ETN (UGAZ) bounced 38 cents to 3.51, or 12%, on 38 million shares.
Among other gainers, Horizon Pharma, Inc. (HZNP) was up 1.38 to 18.53, and Tetraphase Pharmaceuticals, Inc. (TTPH) up 3.12 to 41.66 were among many other gainers today.
Stepping back and reviewing the hourly chart patterns, the indices opened down, and then rallied all day. Big gains for the day, and a hell of a bang to end the week. Market is now involved in what looks like a 5th leg advance. It could end shortly, but momentum is strong, and we may see some extension on Monday.
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