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Harry Boxer's Charts of the Day

S&P 500 Closes at New All-Time Highs in Choppy Session


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The stock market indices had a positive session, a little choppy and rough going, but it ended well, with the S&P 500 closing at new all-time highs over 1890.

The day started out with a pop to the upside, they pulled back, especially on the Nasdaq 100, but then they snapped back, the S&P 500 double-topping. The Nasdaq 100 was not able to get near its high, while the S&P 500 reached 1891 in the morning. They then pulled down by midafternoon to the session lows, but came back with a roar in the last hour, hour and a half, closing in the plus column for the day.

Net on the day, the Dow was up 40.39 at 16,573.00. The S&P 500 was up 5.38 at 1890.90. The Nasdaq 100 was up 7.60 at 3665.99.

Advance-declines were 17 to 13 positive on the New York Stock Exchange, and 14 to 11 positive on Nasdaq. Up/down volume was better than 2 to 1 positive on New York, with total volume of 640 million shares. Nasdaq traded 2.15 billion shares and had a 13 to 8 positive volume ratio.

TheTechTrader.com board was very mixed. Priceline.com Incorporated (PCLN) did have another good day, up 15.29 to 1266.66, but Google Inc. (GOOG) was up only 21 cents to 1135.10, Apple Inc. (AAPL) was up only 90 cents to 542.55, Amazon.com Inc. (AMZN) gave back 1.03 to 341.96, and Netflix, Inc. (NFLX) lost 1.81 to 362.88.

Tesla Motors, Inc. (TSLA) exploded 13.32 to 230.29, closing near the highs for the day, on 13 million shares, while Pharmacyclics Inc. (PCYC) lost 5.20 to 102.22, and Vipshop Holdings Limited (VIPS) gave back 5.66 to 154.00.

Retrophin, Inc. (RTRX), a swing trade of ours, was up 1.90 to 23.36. Adept Technology Inc. (ADEP) gained 1.03 to 20.74, Kandi Technolgies Group, Inc. (KNDI) 77 cents to 16.57, and low-priced LiveDeal, Inc. (LIVE) 44 cents to 7.63.

Also on the downside, SolarCity Corporation (SCTY) fell 1.26 to 63.75, and Twitter, Inc. lost 1.25 to 45.73.

Checking the TheTechTrader.com percent-gain leaderboard, IsoRay, Inc. (ISR) led the way, up 49 cents to 3.12, or 19%, on 25.7 million shares. Low-priced UQM Technologies Inc. (UQM) bounced 35 cents to 2.93, or 14%.

VisionChina Media Inc. (VISN) ran 3.66 to 24.05, or 18%. Acceleron Pharma, Inc. (XLRN), which we traded today, climbed 4.46 to 38.33, or 13%, on nearly a million shares. Alliance Fiber Optic Products Inc. (AFOP), which we traded, thrust 1.86 to 16.68, or 12 1/2%, on 1.4 million shares.

Other stocks of note included Myriad Genetics Inc. (MYGN), in a strong biotech group, up 4.03 to 39.18. Goodrich Petroleum Corp. (GDP) was up 1.14 to 17.00, GT Advanced Technologies Inc. (GTAT) 1.29 to 18.67, and Energous Corp. (WATT), which we put a swing trade on today, 1.12 to 13.88. Mazor Robotics Ltd. (MZOR) rose 1.45 to 21.94.

The ETF Direxion Daily Gold Miners Bull 3X Shrs (NUGT), which we traded today, snapped back 2.48 to 37.50. The VelocityShares 3x Long Natural Gas ETN gained 1.33 to 23.22.

Stepping back and reviewing the hourly chart patterns, the indices were choppy today, up sharply in the morning. They pulled back sharply, bounced around, and then pulled back in the afternoon, coming on strong at the close, with the S&P 500 closing at all-time new highs.

Let’s see how it goes tomorrow.

Good Trading!

Harry