The stock market started off the month with a big bang, first gapping up, and then pulling back sharply, like it did yesterday, except today it rallied the rest of the day, finishing at the highs for the day going away and at new all-time highs.

Net on the day, the Dow was up 135.53 at 21,144.18. The S&P 500 was up 18.26 at 2430.06, closing at the highest close in its history and at the high for the day. The Nasdaq 100 was up 27.71 at 5816.51, closing within pennies off the high for the day and new all-time high.

Advance-declines were 4 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on the Nasdaq. Up/down volume was 7 to 1 negative on New York, total volume of 3.8 billion shares traded. The Nasdaq traded 1.9 billion shares and had a 3 to 1 positive volume ratio.

TheTechTrader.com board was almost all green. Priceline.com (PCLN) was up 13.73 to 1890.82, making intraday and new all-time high, Alphabet Inc. (GOOG) up 2.09 to 966.95, Apple Inc. (AAPL) up 42 cents to 153.18, Amazon.com, Inc. (AMZN) 1.33 to 995.95, and Netflix, Inc. (NFLX) closed flat at 162.99.

Baidu, Inc. (BIDU) jumped 1.16 to 187.26, Facebook, Inc. (FB) gained just 7 cents to 151.53, but First Solar, Inc. (FSLR) dropped 19 cents to 38.32.

Tesla Motors, Inc. (TSLA) dropped 64 cents to 340.37.

Other stocks to the upside included bluebird bio, Inc. (BLUE), up 3.85 to 79.20, Achaogen, Inc. (AKAO) up 1.10 to 21.28, Clovis Oncology Inc (CLVS) up 3.55 to 55.21, Exact Sciences Corporation (EXAS) up 1.77 to 38.24, Kite Pharma, Inc. (KITE) 2.34 to 74.66, Minerva Neurosciences, Inc. (NERV) 1.75 to 10.00, Supernus Pharmaceuticals, Inc. (SUPN), with another new all-time high today, 1.15 to 38.75.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) jumped 3.47 to 46.93.

In addition, Five9, Inc. (FIVN) gained 1.05 to 23.52, and Qorvo, Inc. (QRVO) advanced 1.11 to 79.06.

On the downside, there were no stocks down as much as a point, and only a few fractional losers.

Checking TheTechTrader.com percent-gain leaderboard, Microbot Medical Inc. (MBOT) bounced 89 cents, or 20%, to 5.41, on 7.8 million shares traded. Neuralstem, Inc. (CUR) climbed 75 cents, or 17%, to 5.21. Kamada Ltd. (KMDA) closed up 1.15, or 16%, to 8.20.

XBiotech Inc. (XBIT) ran 1.96, or 27%, to 9.33.

Palo Alto Networks, Inc. (PANW) popped 20.40, or 17%, to 138.99, on 15 million shares traded on earnings. Ciena Corporation (CIEN) exploded 3.71, or 16%, to 27.19, on 22 million shares traded.

Stepping back and reviewing the hourly chart patterns, after an early pop and sharp drop on Nasdaq 100, with the S&P 500 holding much better, the indices rallied back with the S&P 500 leading the way and taken out at key resistance, closing at new all-time highs.

Good Trading!

Harry

For more of Harry Boxer, sign up for a FREE 7-Day Trial to his Real-Time Technical Trading Diary.

(c) 2017 AdviceTrade, Inc. All rights reserved. Distributed only by written permission of AdviceTrade and The Technical Trader at info@advicetrade.com . In using any portion of Harry Boxer's content, you agree to the terms and conditions governing the use of the service as described in our disclaimer at http://www.thetechtrader.com

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.

Harry Boxer Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.