The stock market indices had gains today, only a late selloff prevented them from all-time highs, but they actually did close at all-time closing highs. The day started out with a big pop to the upside, particularly on the Nasdaq 100 when they went higher in a 5-wave advance. Only at that point, at 5793 did they start to give the Nasdaq 100 a late, 3-wave corrective pullback. It reached 5776, a loss of about 17 points in the last hour. The S&P 500, within 20 minutes of the close, was making a new high at 2418, but did pull back, However, they did close solidly in the green column at the end of the day.

Net on the day, the Dow was up 70.53 at 21,082.95. The S&P 500 was up 10.68 at 2415.07. The Nasdaq 100 was up 48.07 at 5778.37.

Advance-declines were 15 to 14 positive on the New York Stock Exchange, and 15 to 13 positive on the Nasdaq. Up/down volume was 4 to 3 negative on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 2 billion shares and had an 11 to 6 positive volume ratio.

TheTechTrader.com board was led by the Nasdaq Generals. Priceline.com (PCLN) had another very good day today, up 11.69 to 1860.43, Alphabet Inc. (GOOG), reaching a new all-time high at 972.63, was up a whopping 14.58 to 969.54, Apple Inc. (AAPL) up 53 cents to 153.87, Amazon.com, Inc. (AMZN) up 13.03 to 993.38, and Netflix, Inc. (NFLX), reaching a new all-time high, 5.30 to 163.05.

Baidu, Inc. (BIDU) gained 1.32 to 191.95, Facebook, Inc. (FB) snapped back 1.92 to 151.96, but First Solar, Inc. (FSLR) dropped 96 cents to 37.94.

Tesla Motors, Inc. (TSLA) jumped 6.61 to 316.83.

Other stocks to the upside included Check Point Software Technologies Ltd. (CHKP), reaching a new 17-year high, up 1.45 to 111.40, Kite Pharma, Inc. (KITE) up 3.25 to 74.91, and Teladoc, Inc. (TDOC), one of our swing trades, 1.40 to 30.50.

On the downside, The Direxion Daily S&P Biotech Bull 3X ETF (LABU) dropped 75 cents to 47.54.

Achaogen, Inc. (AKAO) was down 1.57 to 22.08, Calithera Biosciences, Inc. (CALA) down 1.25 to 15.30, and Medidata Solutions, Inc. (MDSO) down 1.00 to 72.16 Eagle Pharmaceuticals Inc. (EGRX) lost 2.49 to 73.89

Checking TheTechTrader.com percent-gain leaderboard, New Age Beverages Corporation (NBEV) bounced 83 cents, or 15%, to 6.27, on 1.3 million shares traded.

BioCryst Pharmaceuticals, Inc. (BCRX) advanced 1.60, or 31%, to 6.73, on 27 million shares traded

The big winner of the day was Aerie Pharmaceuticals, Inc. (AERI), on positive drug news, jumped 13.75, or 34%, to 54.25, on 6.6 million shares traded. Best Buy Co., Inc. (BBY) popped 10.83, or 22%, to 61.25, on 33.4 million shares traded on a strong earnings report. JinkoSolar Holding Co., Ltd. (JKS) climbed 2.16, or 11%, to 21.46, on 2.3 million shares traded.

The VelocityShares 3x Inverse Crude (DWT) ran 4.03, or 16%, to 29.70, on 6.2 million shares traded.

Stepping back and reviewing the hourly chart patterns, the indices gapped up, ran sharply, and that’s where they diverged a bit as the S&P 500 failed to make new highs this late in the session. The Nasdaq Generals led the market straight up all day until the last hour when they pulled back.

Let’s see what happens tomorrow, but the markets are really extended here.

Good Trading!

Harry

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