The stock market indices had a spectacular rally and closed at the highs for the day going away. They opened with big gaps up, went into consolidation during the morning session, came on again late morning, rallied strongly, pulled back in the last hour, only to come on again in the last 20-30 minutes, and close with a bang.

Net on the day, the Dow was up 183.54 at 18,024.06. The S&P 500 was up 22.78 at 2108.29, within pennies of its high. The Nasdaq 100 was up 64.80 at 4479.06, right at the high for the day.

Advance-declines were a little more than 3 to 2 positive on New York Stock Exchange and 16 to 11 positive on Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York, with total volume of 3 1/3 billion shares. Nasdaq traded over 1.8 billion shares and had a 2 1/2 to 1 positive volume ratio.

TheTechTrader.com board had an outstanding day today. Leading the way was Priceline.com Incorporated (PCLN), up 22.62 to 1260.43, Google Inc. (GOOG) up by only 56 cents to 537.90, Apple Inc. (AAPL), on 57 million shares, came on strong, up 3.80 to 128.95, Amazon.com Inc. (AMZN) 1.09 to 422.87, and Netflix, Inc. (NFLX) just 53 cents to 557.03.

NewLink Genetics Corporation (NLNK) snapped back 2.04 to 46.64, as many biotech's did nicely today. SolarCity Corporation (SCTY) ran 1.57 to 61.62, and Royal Gold, Inc. (RGLD), in a firm gold sector, popped 1.40 to 65.93.

The cyber-security group was safe today. Cyber-Ark Software Ltd. (CYBR) came on strong, up nearly 4.00 today, 3.97 to 66.92. FireEye, Inc. (FEYE) popped 2.01 to 43.31, and TASER International Inc. (TASR) advanced 2.18 to 32.37, but traded nearly a dollar higher earlier in the day. It just fell short of the all-time highs from 15 years ago, trading nearly 7 million shares. A spectacular move for that stock.

Regulus Therapeutics Inc. (RGLS) was up 92 cents to 13.47.

On the downside, First Solar, Inc. (FSLR), after a poor earnings report, got zapped for 2.33 to 57.34, reaching 60.00 earlier in the day. That was the only stock on the main board that was down on the session today.

Checking the TheTechTrader.com percent-gain leaderboard, InterCloud Systems, Inc. (ICLD), on some strong orders, ran 1.15 to 2.67, or 76%, on 15.7 million shares, 9500% more volume than average.

Nutrisystem, Inc. (NTRI), which we traded today, exploded 4.20 to 23.25, or 22%, on 2 million shares. Ocwen Financial Corp. (OCN) gained 1.77 to 10.26, or 21%, on 14.7 million shares. SkyWest Inc. (SKYW) closed up 2.47 to 16.12, or 18%, on nearly 2 million shares. Syngenta AG (SYT) advanced 10.88 to 77.92, or 16%, on 4.1 million shares. Sorrento Therapeutics, Inc. (SRNE), which has been under pressure of late, climbed 1.33 to 10.35, or 15%. Century Aluminum Co. (CENX) bounced 1.71 to 14.60, or 13%, on 7.6 million shares. Integra LifeSciences Holdings Corporation (IART), in the biotech sector, spiked to 66.73 before pulling back and closing at 65.48, up 6.70, or 11%, on 1 million shares.

Among other gainers, Teradyne Inc. (TER) ran 2.05 to 20.30, and Altera Corp. (ALTR), on continued rumors on takeover rumors by Intel, jumped 4.08 to 45.76.

Stepping back and reviewing the hourly chart patterns, after a large gap up in the morning, the indices pulled back in wedge patterns, and consolidated bullishly, holding support all morning. That's when they came on and rallied strongly. They had a late afternoon pullback that looked bullish in terms of bull flags, and then they surged to the end, closing at the highs for the day going away.

It was a very, very strong day. After a 5-wave decline, the indices rallied like we expected them to, and it was spectacular.

Have a nice weekend!

Harry

Good Trading!

For more of Harry Boxer, sign up for a FREE 15-Day Trial to his Real-Time Technical Trading Diary. Or sign up for a Free 30-Day Trial to his Top Charts of the Week service.

(c) 2015 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.