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AI Stocks 2020-2035 15 Year Trend Forecast

Very Solid Stock Market Session and Nice Start to the Week

Stock-Markets / Stock Markets 2016 Feb 17, 2016 - 10:35 AM GMT

By: Harry_Boxer


The stock market indices started off the week with a bang. They ran hard all day, with a huge gap down early morning, bounced, consolidated late afternoon, and then came on again right at the close to finish at the highs for the day. It couldn't be a better day.

Net on the day, the Dow was up 222.57 at 16,196.41, at the tick high for the day. The S&P 500 was up 30.80 to 1895.58, within pennies of its high. The Nasdaq 100 was up 85.14 to 4104.33, also at the tick high for the day.

Advance-declines were 5 to 1 positive on the New York Stock Exchange, and 3 1/2 to 1 on Nasdaq. Up/down volume was 5 1/2 to 1 on New York, total volume of 4 1/2 billion shares traded. The Nasdaq traded 2 billion shares and had a 7 to 1 positive volume ratio. board was nearly all green. Leading the way, Priceline Inc. (PCLN) was up a whopping 52.67 to 1110.68, Google Inc. (GOOG) up 8.60 to 691.00, Apple Inc. (AAPL) up 2.65 to 96.64, Inc. (AMZN) 14.02 to 521.10, and Netflix, Inc. (NFLX) 1.65 to 89.05.

Tesla Motors, Inc. (TSLA) gained 4.13 to 155.17, and Baidu, Inc. (BIDU) ran 4.79 to 157.54.

First Solar, Inc. (FSLR) ran 2.06 to 63.05 in a very strong solar group. Also in that group were Canadian Solar Inc. (CSIQ), which had a spectacular surge of 2.90 to 19.29, SolarCity Corporation (SCTY) up 1.00 to 18.38, and JinkoSolar Holding Co., Ltd. (JKS) up 2.21 to 20.20.

Mobileye N.V. (MBLY) had a fantastic day, up 2.29 to 27.47, NewLink Genetics Corporation (NLNK), along with many others in the biotech sector, ran 1.14 to 22.19.

Checking the percent-gain leaderboard, low-priced JP Energy Partners LP (JPEP) bounced 1.34 to 3.89, or 52 1/2%, 6 times the average volume. Groupon, Inc. (GRPN) jumped 1.19 to 4.08, or 41%, on 87 million shares after Alibaba bought 5.6 percent stake in the company.

Sonus Networks, Inc. (SONS), a telecom stock, made its way up 1.61 to 6.93, or 30%, on 3.3 million shares.

Cray Inc. (CRAY) advanced 6.61 to 40.14 or 20%, on 2.4 million shares.

The Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) had an interesting day, up 2.76 to 13.87, and the Direxion Daily Gold Miners Bear 3X ETF (DUST) gained 1.27 to 6.33, or 25%, on nearly 45 million shares.

Stepping back and reviewing the hourly chart patterns, the indices were basically up at the open, had a 3-wave corrective pullback in the first hour, hit their session lows, and then rallied the rest of the day, ending the day with a really nice start to the week.

Let's see what happens tomorrow.

Good Trading!


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Mr. Boxer's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.

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