The stock market indices had a very strong session, taking a big leap at the opening to retest the highs, and then backed off sharply. They came on strong and by midday the S&P 500 made new, all-time highs, but when the Nasdaq 100 failed to cooperate, they pulled back, but held. They came on one more time and made a nominal new highs again on the S&P 500 over 2188. Nasdaq 100 again could not make a new high, and they both backed in the last 10 minutes. It was a very positive session.

Net on the day, the Dow was up 1117.86 at 18,613.52. The S&P 500 was up 10.30 at 2115.48. The Nasdaq 100 was up 19.92 at 4803.31.

That’s the first time in 16 years that the Nasdaq 100 closed over 4800 at 4816. It approached 4813 today, but just couldn’t get there. We’ll have to see if there is any follow-through, but this is key resistance here.

Advance-declines were better than 3 to 2 positive on the New York Stock Exchange, and better than 3 to 2 positive on the Nasdaq. Up/down volume was 3 to 1 positive on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1.5 billion shares and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mostly green. Priceline.com (PCLN) was up 64 cents to 1406.92, Google Inc. (GOOG) up 17 cents to 784.85, Amazon.com Inc. (AMZN) up 2.68 to 771.24, and Netflix, Inc. (NFLX) up 1.96 to 95.89, but Apple Inc. (AAPL) was down just 7 cents to 107.93.

Baidu, Inc. (BIDU) popped 2.09 to 167.72, Facebook, Inc. (FB) closed flat, up just 2 cents to 124.90, and First Solar, Inc. (FSLR) advanced 35 cents to 39.01.

Tesla Motors, Inc. (TSLA) gave back 74 cents of its winnings from yesterday, closing down 74 cents to 224.91.

To the upside, point plus gainers included Twilio, Inc. (TWLO), up 5.08 to 48.71, Ambarella, Inc. (AMBA) up .70 to 61.80, Exact Sciences Corporation (EXAS), a swing trade of ours, up 1.39 to 20.84, Medivation, Inc. (MDVN) 1.61 to 65.60, and NVIDIA Corporation (NVDA) 1.19 to 59.70, and trading 3 points higher in after hours on a strong earnings report.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) eked out 1.81 to 41.27.

On the downside, Acacia Communications, Inc. (ACIA) was the only stock on our board down as much as a point today, down 1.50 to 67.70. However, it’s up 15 points to 82.25 in after hours, on a phenomenal earnings report.

Checking TheTechTrader.com percent-gain leaderboard, Kura Oncology, Inc. (KURA) popped 88 cents to 5.24, or 10%, on 5.5 million shares.

SemiLEDs Corporation (LEDS) advanced 1.13 to 6.96, or 19%, on 4 million shares. Aegean Marine Petroleum Network Inc. (ANW) climbed 1.19 to 7.78, or 18%, on 1.159 million shares.

Alpha & Omega Semiconductor, Ltd. (AOSL) jumped 4.15 to 19.04, or 28%, on 1.3 million shares. Resolute Energy Corporation (REN) gained 2.67 to 13.88, or 24%, on 6.4 million shares. Macy's, Inc. (M) closed up 5.81 to 39.81, or 17%, on 40 million shares, on strong earnings. Brinker International, Inc. (EAT) ran 5.75 to 52.72, or 12%, on 6.9 million shares.

Stepping back and reviewing the hourly chart patterns, the indices gapped up sharply at the opening, then pulled back sharply, moved right back up to new highs on the S&P 500, and when they were unable to do so on the Nasdaq 100, they got into a consolidation range at the end of the day, but it did close positive on the session. They made new, all-time highs on the Dow and S&P 500.

Good Trading!

Harry

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