Harry Boxer is author of The Technical Trader (www.thetechtrader.com), launched in July 2001, which provides his day & swing trading ideas and technical market analysis in a live interactive blog. Harry has more than 40 years of Wall Street investment and technical analysis experience, including eight years on Wall Street as chief technical analyst with three brokerage firms. Former chief technical analyst and columnist for AmericaInvest.com and winner of the 1995 & 1996 worldwide Internet stock-market trading contest, "The Technical Analysis Challenge," Harry is widely syndicated and a featured guest on many financial programs and sites, including CNBC and MarketWatch, where he had the top-read news & analysis article on the site in 2007. He is a frequent presenter at The Traders Expo, and is also a technical consultant to Wall Street hedge funds and large institutional traders.
Positive Session for the 19th Consecutive Tuesday May 21, 2013
The stock market indices had an interesting session, and they closed positive on the day for the 19th consecutive Tuesday. The day started out with a little pop to the upside, and then a very sharp setback that tested support, but held right there. They then started a very strong rally, taking the Nasdaq 100 from 3011 to 3037. The S&P 500 jumped from 1663 to 1675. In the afternoon in the last hour or so, they came down in falling wedges to take back a chunk of the gains and closed off the highs.
AMBA, FSLR, SCTY, YRCW May 20, 2013
The stock market had a pretty interesting day on Monday. It was kind of sloppy, but a lot of stocks that we follow did well. The solar stocks were very strong. We’re going to stay with the longs for now, so let’s see what’s going on with them. Ambarella, Inc. (AMBA) has had nice movement. It had a strong move up Nov-Jan, pulled back through Feb, and then moved back up again.
Negative Day, but Strong Technicals May 20, 2013
The stock market indices started the week out with upward movement until midsession when the S&P 500 reached just under 1673, a new all-time high, and the Nasdaq 100 reached almost 33. They came down hard in a 5-wave decline, bounced in the afternoon, couldn’t get through resistance after the Fibonacci retracements, and then backed off into the close. Net on the day, the Dow closed down 19.12 at 15,335.28, after reaching 15,391.84, a new all-time high. The S&P 500 was down 1.18 at 1666.
AEGR, EGLE, SCTY, UNXL May 16, 2013
The stock market showed some signs of weakness on Thursday, but it didn’t break yet. The stocks we’re following are still doing well, so let’s take a look at some of those. Aegerion Pharmaceuticals, Inc. (AEGR) went ballistic on Thursday, running to the top of the channel to the initial target, and then went crazy, up 14.73, or 32%, on 4.7 million shares. It started out in the high 40’s, ran up and wedged several times, formed a coiling-type pattern, and reached 63.
Negative Day with Poor Close May 16, 2013
The stock market indices had a tough session with a late sell-off, putting them into negative territory. The day started out positive as the Nasdaq 100 reached 3019 today, only to rollover and close under 3000 at 2999, 20 points off its high, finishing down on the day. Net on the day, the Dow got up to 15,302, and closed down 42.47 at 15,233.22. The S&P 500 was down 8.31 at 1650.47, 10 points off its high.
Interesting Volatile Session with Spectacular Close May 15, 2013
The stock market indices had an interesting volatile session, and at the end of the day they came away with a nice gain, although the story was quite different earlier in the day, particularly in early afternoon when they took a deep slide. However, in the morning the S&P 500 backed off a little bit and consolidated, then exploded, running from 1647 to 1661, 14 points almost straight up. The NDX didn’t do that well going from 2991 to 3005, and then retested that level and failed.
HIMX, RVLT, UNXL, YRCW May 15, 2013
It was another interesting day for the market on Wednesday. There was an afternoon slide that looked pretty serious, but it came right back and closed positive. The technicals weren’t great, but nevertheless, the market keeps marching along, and until we get the break, we'll just keep plugging away at the long side, at least for now. Himax Technologies, Inc. (HIMX) is doing wonderfully. The major trend is up. The channel is up.
AEGR, HIMX, RVLT, THRX May 14, 2013
It is still a resilient market, and we’re still seeing a lot of stocks running. There’s no sense in focusing on the shorts just yet. There are some stocks that look negative, but at this point, until we see that break, we’ll continue to look on the long side. Aegerion Pharmaceuticals, Inc. (AEGR) has been one of our swing trades and one of our favorites since it broke out in Oct-Nov.
Another Solid Day For Wall Street May 14, 2013
The stock market indices had a big day today. They rallied from the get-go, reached their session highs late morning-midday, and then pulled back in the afternoon. Net on the day, the Dow was up 123.57 at 15,215.25, a new all-time high. The S&P 500 was up 16.57 at 1650.34. The Nasdaq 100 was up 13.96 at 2996.05, and traded as high as 3005, so 9 points off the high, but a good day. Most of that was due to Apple Inc. (AAPL), down 10.88 to 443.86.
CZR, SPWR, THRX, XOMA May 13, 2013
It was an interesting day on Wall Street on Monday. A lot of the stocks we follow did well, but the indices did not, so it was kind of a mixed close. Call it a consolidation day at the very least, and we’ll see what kind of follow-through they get tomorrow. The futures are up a little so that may help. In the meantime, we’ll keep trading on the long side until we get a break to the downside. On Monday, we’ve seen more day trades and swing trades that are working.
Very Narrowly Mixed on the Day May 13, 2013
The stock market indices had a mixed session, kind of choppy, but they held their own, and actually made nominal new high midday, but they pulled back in the afternoon. The day started out with a little move to the downside, then an up-move, a pullback that tested successfully, and then the sharpest move of the day that came late morning, midday. The Nasdaq 100 jumped from the 2974 area to just under 2990 at 2989.
A Reversal Day -- Is There More Downside to Come? May 9, 2013
The stock market indices finally had difficult day and closed with a reversal session that may have been a significant one. Midday the market spiked up and then reversed sharply. The day started out with a bit of a back-and-forth movement, a test of support, and once again support held the indices broke out and ran up and reached 2980 plus on the Nasdaq and the S&P 500 got up to 1635. They then rolled over and rolled over hard.
CTRP, GMCR, OWW, TSLA - Stock Charts - Harry Boxer, TheTechTrader.com May 9, 2013
The stock market spiked up midday on Thursday but rolled over at the end of the day. It closed ugly, but the futures were up Thursday night and we won’t know until Friday if there will be a downside follow-through or not. Maybe there will be some profit taking on Friday, maybe not. But be vigilant, keep your stops in place. Ctrip.com International Ltd. (CTRP) had a big day on Thursday, up 6.13 to 29.93, or 26%, on 14.5 million shares.
EA, MBI, QIHU, YY May 8, 2013
The stock market remarkably continues to be resilient. It pulled back, held support, and continued going higher. It is overbought so we’ll have to be extremely cautious here and not get too crazy. This is a time when investors need to be vigilant and keep close tabs on your stops and your targets. Electronic Arts Inc. (EA) had a spectacular session on Wednesday, opening at 19.80, which was a gap-up, running to 21.68, and then closing just 12 cents off the high, up 3.15, or 17%, on 22 million shares.
Very Strong Close, Bulls Still In Control May 8, 2013
The stock market indices had a very interesting session. After an opening dip they rallied very sharply to midday. At that point, they were at new all-time highs on the Dow and S&P 500. They rolled over and did a more than 50% retracement on the S&P 500, but less than that on the Nasdaq. They held support, which was the key, and rallied back sharply with the S&P 500 plowing to 1631-midday highs, and closed near the highs for the day. Net on the day, the Dow was up 48.92 at 15,105.
Big Day for the Blue Chips May 7, 2013
The stock market indices had a mixed session with the blue chips strong, but the Nasdaq 100 and Composite were not so strong. That’s because the major players on the NDX got hammered today. The day started out with a nice little pop to the upside, and then they plunged hard on the NDX, going from 2962 to 2942 in about 20 minutes.
CREE, IMMR, INFN, IQNT May 6, 2013
The stock market was up again on Monday. It’s amazing how stocks can go beyond their limits and continue to stretch to the upside. So, as long as they’re moving, we’ll stay with the long side. Let’s take a look at some of the ones we've highlighted here. Cree, Inc. (CREE), one of our swing trades, took a little dip on earnings and stayed in a wedge for about eight days. Now, it’s taking off again, and on Monday it was up 1.47 to 59.50, or 2.5%, on 1.9 million shares.
Mixed Session With Solid Technicals May 6, 2013
The stock market indices started the week off with a nice pop out of the gate, followed by a 3-wave, corrective pullback, which did hold support. Then they had a 5-wave advance midday that reached new highs at 2959, and change, on the Nasdaq 100 and just under 1620 on the S&P 500. They then pulled back in the afternoon to pare back the gains and actually dropped the Dow in the loss column. Net on the day, the Dow closed down 5.07 at 14,968.89, about 20 points off the high. The S&P 500 was up 3.
REGI, SPWR, VIPS, YELP May 2, 2013
The stock market had a fantastic day on Thursday and a lot of our stocks did very well. So we’re going to go over some longs and see how they are doing. Renewable Energy Group, Inc. (REGI) had a big day on Thursday, up 1.44 to 11.35, or 14 1/2%, on 4.1 million shares. That’s the biggest volume for this stock in a long time. It’s it new all-time high territory. There may be a little bit more acceleration when it gets into the 13-14 zone.
Spectacular Day On Wall Street May 2, 2013
The stock market indices had a very strong day, and zero follow-through to yesterday’s downside action, relieving some of the bearish tension. It was a spectacular session as the indices ran from the get-go with futures up pre-market. They stalled a couple times to consolidate, but were up, basically, all day until midsession when they reached their peak and consolidated. For the rest of the day, though, they didn’t give up much ground. Net on the day, the Dow was up 130.63 at 14,831.58.
CYBX, NTI, PKI, VMW May 1, 2013
The stock market did not fare well on Wednesday as it had a really bad 5-wave decline. We want to be prepared for any potential pullback, so we’re going to point out some of the stocks on our Boxer Shorts list just in case the market does carry forward to the down side. Cyberonics Inc. (CYBX) has a massive, year-long head-and-shoulders top on it, and a beautiful trend line channel that formed over the last couple years, until it plunged this past January.
Economic News Sends Market to the Downside May 1, 2013
The stock market indices had a rough session today. Economic news pounded the markets, and the indices experienced a 5-wave decline. Only a last three-minute bounce off the lows kept them from closing at the lows for the day. Net on the day, the Dow was down 138.85 at 14,700.95. The S&P 500 was down 14.87 at 1582.70. The Nasdaq 100 was down 14.10 at 2873.35. Advance-declines were 28 to 8 negative on the New York Stock Exchange, and 18 to 5 negative on Nasdaq.
AAPL, GIB, HTWR, MGAM April 30, 2013
The stock market had an interesting day on Tuesday, down in the morning, but back up with a strong close in the afternoon. There were some really good stocks, so we’re going to remain on the long side until this market breaks. Right now there is no top in site, although we’re due for one, and have been due for quite a while. Apple Inc. (AAPL) is a stock that we don’t talk about much in regards to the charts. Since the October high when it broke down below 650.
AAPL, GIB, HTWR, MGAM April 30, 2013
The stock market had an interesting day on Tuesday, down in the morning, but back up with a strong close in the afternoon. There were some really good stocks, so we’re going to remain on the long side until this market breaks. Right now there is no top in site, although we’re due for one, and have been due for quite a while. Apple Inc. (AAPL) is a stock that we don’t talk about much in regards to the charts. Since the October high when it broke down below 650.
Solid Day for Technicals and the Market April 30, 2013
The stock market indices had a nice comeback from an early dip, and held support. In the morning the indices opened a little bit firm, but rolled right over to test 2860 twice on the Nasdaq 100 and the 1586-7 area on the S&P 500. That held, and then they rallied strongly to midday when the NDX went from 2860 to 2888 to new highs for the rally. The S&P 500 did not get to a new high equal to yesterday’s peak at 1597, and backed off.
AEGR, FSLR, PATK, SCTY April 29, 2013
The stock market is sure acting like it’s coming into a top, but it's difficult to predict how far it will go. It was an up-day on Monday, and we are still looking at longs. So let’s see how they are doing. Aegerion Pharmaceuticals, Inc. (AEGR), a stock we’ve been following closely since it broke out in October of last year, ran up to above 40, and then in the last six weeks it’s been moving sideways and consolidating.
Up on the Day, Great Start to the Week April 29, 2013
The stock market indices started the week off with a bang. They had gap-ups at the opening, ran hard in the morning, and took out resistance as the Nasdaq 100 double-topped at 2860. However, the S&P 500 ran up to just below resistance at the 1596-7 range. After consolidating midday, they were not able to break out because the S&P 500 made a new high but the NDX did not. They then rolled over, bounced, and rolled back down to close right at support.
Big Week for Indices Despite Mixed Close April 26, 2013
The stock market indices ended mixed on the day, and it was a somewhat volatile session. They opened down, bounced back, and then had a 5-wave decline to late morning when they bottomed for the day. They then rallied back in a nice advance, taking the Nasdaq 100 from 2828 to 2848, and the S&P 500 from 1578 to 1586. In the last half hour, they rolled over and gave back a chunk of that rally to finish mixed on the day. Net on the day, the Dow was up 11.75 at 14,712.
Sharp, Strong Morning, Up Day in General April 25, 2013
Sharp, Strong Morning, Up Day in General The stock market indices had a very interesting day today as the market went sharply higher in the morning, consolidated midday, and then rolled over hard in the afternoon, taking back a big junk of the profits, only to bounce at the end of the day. They were up on the session, but way off the highs. Net on the day, the Dow was up 24.50 at 14,700.80, 68 points off the high. The S&P 500 was up 6.37 at 1585.16, 7 points off the high. The Nasdaq 100 was up 14.
ANGI, PATK, STMP, UNXL April 25, 2013
It was an interesting day on Wall Street on Thursday. The market got off to a great start, lifted by positive earnings reports, but plummeted midday, only to pick itself back up by the end of the day. So we’ll continue looking at longs here as well as some of our swing trades and give you a status update on how they are doing. Angie's List, Inc. (ANGI) had a very big day on Thursday.