Outstanding Day for Biotech’s, Spectacular Stock Market Day Overall

By: Harry_Boxer

The stock market had a spectacular day today. They opened strong, moved up in waves all day, and closed at the highs for the day going away.

Net on the day, the Dow was up 112.73 at 17,716.05. The S&P 500 was up 21.49 to 2066.66, within a point of its high. The Nasdaq 100 was up 73.03 to 4543.78, within a point of its high as well.

Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on the Nasdaq. Up/down volume was 3 1/2 to 1 positive on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1 3/4 billion shares and had a 4 1/2 to 1 positive volume ratio.

TheTechTrader.com board was very positive today. Priceline.com (PCLN) was up 13.93 to 1293.01, Google Inc. (GOOG) up 7.89 to 745.69, Apple Inc. (AAPL) up 1.15 to 110.96, Amazon.com Inc. (AMZN) 15.94 to 602.08, but Netflix, Inc. (NFLX) was down a 11 cents to 104.83.

Baidu, Inc. (BIDU) gained 3.02 to 186.82, Facebook, Inc. (FB) moved ahead 1.49 to 113.71, and First Solar, Inc. (FSLR) bounced all over the place, and closed up just 34 cents to 62.76.

Tesla Motors, Inc. (TSLA) jumped 9.95 to 265.42.

Shutterstock, Inc. (SSTK), one of our swing trades, climbed 1.32 to 38.68.

Biotech’s were very strong today. Juno Therapeutics Inc. (JUNO) was up 2.70 to 42.24, Intrexon Corporation (XON) up 1.66 to 35.11, and ACADIA Pharmaceuticals Inc. (ACAD) up 2.96 to 32.86.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) ran 6.93 to 37.78.

On the downside, the only major loser on our board was Cree, Inc. (CREE), down 4.24 to 24.81, on bad earnings, a point and a half off the low.

Checking the TheTechTrader.com percent-gain leaderboard, Vivint Solar, Inc. (VSLR) advanced 63 cents to 3.08, or 26%, on 6 million shares traded.

Tokai Pharmaceuticals, Inc. (TKAI) popped 1.90 to 7.75, or 33%. Raptor Pharmaceuticals Corp. (RPTP) rode the waves most of the day, and then near the end of the day exploded 1.14 to 5.81, or 24%, on 3 million shares traded.

Momo Inc. (MOMO), on a potential takeover, ran 4.05 to 16.09, or 34%, on 15.5 million shares traded. ConforMIS, Inc. (CFMS) climbed 2.14 to 12.75, or 20%. Sarepta Therapeutics, Inc. (SRPT) made its way up 3.77 to 23.30, or 19%, on 2.2 million shares. Valeant Pharmaceuticals International, Inc. (VRX) ripped 5.44 to 34.17, or 19%, on 19 million shares. Anacor Pharmaceuticals, Inc. (ANAC) jumped 10.34 to 73.20, or 16%, on 1 million shares.

Stepping back and reviewing the hourly chart patterns, the indices had five waves up, and both the Nasdaq 100 and the S&P 500, started from the get-go with a little bit of a consolidation, then they took off, and closed at the highs for the day going away. The Nasdaq 100 made new, multi-week rally highs today, but the S&P 500 has not confirmed yet, and would need to get over the 2067 area to confirm that breakout.

Good Trading!

Harry

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