The stock market indices came back with a roar today after a very negative start.

The day started out with gap downs, and then they made lower lows, breaking first support and severely testing key-secondary support. That did hold, and a very strong, 5-wave rally ensued for the rest of the session as the indices jumped from 2614 to 2665 on the Nasdaq 100, and from under 1386 to over 1410 on the S&P 500.

Net on the day, the Dow was up 106.98 at 12,985.11, the S&P 500 up 10.99 at 1409.93, and the Nasdaq 100 up 23.85 at 2665.27.

Advance-declines were better than 2 to 1 positive on the New York Stock Exchange, and a little better than 3 to 2 positive on Nasdaq. Up/down volume was 3 1/2 to 1 positive on New York, with total volume of 683 million shares. Nasdaq traded about 1.5 billion and had a 3 to 1 positive volume ratio.

TheTechTrader.com board had a lot of winners today. Leading the way, Google Inc. (GOOG) was up 12.96 to 683.67. Amazon Inc. (AMZN) jumped 3.71 to 247.11. Goldman Sachs Group, Inc. (GS) worked its way up 1.42 to 119.33.

Other gainers of note included Green Mountain Coffee Roasters Inc. (GMCR), with a spectacular session after earning release, up 7.91 to 36.86, or 27%, on 29 million shares.

SodaStream International Ltd. (SODA) was up 1.90 to 38.28, reaching as high as 39 earlier, and Sarepta Therapeutics, Inc. (SRPT) snapped back 1.46 to 30.21.

Gulfport Energy Corp. (GPOR) advanced 5.12 to 36.85, or 16%, on 5 million shares. Express Inc. (EXPR) jumped 1.15 to 14.15, or 9%, on 9.6 million shares.

Low-price Vermillion, Inc. (VRML) ran sharply, and closed up 46 cents to 1.65, or 39%, on 2.8 million shares. Low-priced Trina Solar Limited (TSL) was up 48 cents to 2.81, or 20%, on 5.4 million shares. Idenix Pharmaceuticals Inc. (IDIX) bounced 78 cents to 5.30, or 17%, on 2.7 million shares. Groupon, Inc. (GRPN) gained 46 cents to 4.42, or 11.6%, on 35 million shares.

Movado Group, Inc. (MOV) was up 3.27 to 35.50, Five Below, Inc. (FIVE) up 2.44 to 30.55, Deckers Outdoor Corp. (DECK) 3.04 to 39.31, ANN INC (ANN) 2.67 to 35.10, 3D Systems Corp. (DDD) 3.13 to 48.36, and Aegerion Pharmaceuticals, Inc. (AEGR) 1.82 to 22.19.

In addition, AVG Technologies N.V. (AVG) jumped 1.19 to 13.57, American Eagle Outfitters, Inc. (AEO) was up 1.38 to 20.77, and Costco Wholesale Corporation (COST), which we traded today, popped 6.07 to 102.58. Guidewire Software, Inc. (GWRE), which had a huge reversal today, gained 1.82 to 31.28.

Stepping back and reviewing the hourly chart patterns, the indices, after a very sharp, early decline, came back with a vengeance. They not only took back all the losses, but blew through resistance making new multi-rally session highs on the Nasdaq 100, now having gone from a low beneath 2500 to a high of over 2665 in just the last week or so. That was a tremendous rally of the important low here. Not only lateral price resistance, but the declining topsline was taken out in the last couple sessions. The S&P 500 was not quite as strong, but at the end of the day came back to close at 1409.70, and made a nominal new high to slightly confirm the NDX move, but we need to get a thrust through this level. Nevertheless, the S&P 500 did snap back from 1385 to 1410, a 25-point run-up during the course of the morning lows.

At the end of the day, it was a very strong showing for the bulls. We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices had a tough volatile session. However, the day ended at the lows for the day near key support of the last three sessions. So tomorrow will be a key day to see whether it will hold key support or not.

The day started out with a pop to the upside, and then a very sharp sell-off ensued. Just as sharp, they had a snapback to new highs, but the S&P 500 was unable to get through that level and indicated at that time that it could be seeing a negative divergence. Sure enough, the indices sold off sharply, particularly on Harry Reid’s comments regarding little progress that has been made among both the Democrats and Republicans in resolving the fiscal cliff. There was a sharp sell-off, which then rebounded to about a 50% retracement, but then rolled over into the close to end near the session lows going away.

Net on the day, the Dow was down 89.24 at 12,878.13, 10 points off the low. The S&P 500 was down 7.35 at 1398.94, not far off the low for the day. The Nasdaq 100 was down 10.25 at 2641.42, about 4 points off its low and 18 points off its high.

TheTechTrader board was mixed today, and despite Google Inc. (GOOG) being up 9.56 to 670.71, Apple Inc. (AAPL) was down 4.75 to 584.78. Goldman Sachs Group, Inc. (GS) fell 2.53 to 118.41, and International Business Machines Corporation (IBM) dropped 1.65 to 191.23. Amazon Inc. (AMZN) was nearly flat, down 22 cents to 243.40.

Other losers of note included Sarepta Therapeutics, Inc. (SRPT), which ran all the way up to 31.87, reached our swing trade target, and then rolled over to 28.75, down 2.26, a big reversal day. Research In Motion Limited (RIMM) also tagged our swing trade target before dropping by 1.26 to 10.72, on 84 million shares on a reversal day.

Gainers included ACADIA Pharmaceuticals Inc. (ACAD), on positive drug approval, jumped 3.13 to 5.43, or 136%, on 60 million shares. Immersion Corporation (IMMR) was up 1.63 higher to 6.32, and reached 6.39, or 35%, on 1.2 million shares. Peregrine Pharmaceuticals, Inc. (PPHM) popped 24 cents to 1.14, or 27%, on 10.8 million shares.

In addition, there were a lot of strong junior biotech stocks today. Transcept Pharmaceuticals, Inc. (TSPT) jumped 62 cents to 5.31, or 13%. Amicus Therapeutics, Inc. (FOLD) gained 60 cents to 5.51, or 12%, on 1.2 million shares.

Apogee Enterprises, Inc. (APOG) was up 2.17 to 22.92, Crocs, Inc. (CROX) up 1.14 to 13.49, BroadSoft, Inc. (BSFT) 2.40 to 32.53, Yelp, Inc. (YELP) 1.25 to 20.24, Las Vegas Sands Corp. (LVS) 2.33 to 46.36, Medifast Inc. (MED) 2.05 to 31.50, and Generac Holdings Inc. (GNRC) 1.94 to 33.95.

Corning Inc. (GLW) was up 78 cents to 12.13, Smart Balance, Inc (SMBL) up 87 cents to 12.48, Acme Packet, Inc. (APKT) 91 cents to 19.97, Amarin Corporation plc (AMRN) 64 cents to 12.13, First Solar, Inc. (FSLR) 97 cents to 26.28, and Green Mountain Coffee Roasters Inc. (GMCR), after strong earnings, closed up 34 cents to 28.95, but is trading over 34 1/2 in the aftermarket, nearly 6 points higher.

Stepping back and reviewing the hourly chart patterns, the indices were up early, then went down hard midmorning, rallied to new highs in the afternoon on the NDX, but couldn’t do so on the S&P 500. When that occurred, they rolled over, bounced, and then rolled over again to close at the afternoon and session, 2-day lows at key support at 1398 on the S&P 500.

We’ll see if there’s a downside break, or whether they hold it here tomorrow. Either way, it’s a key day tomorrow.

Good Trading!

Harry

The stock market indices had a very strong afternoon move, particularly the Nasdaq 100, which closed in the plus column. The Dow and S&P 500 were not able to make it all the way back, although the S&P 500 did jump 9 points off its low, and still it was down on the session along with the Dow.

The day started out with a gap down. They snapped back to support, formed some wedges, and rolled over, at which point they looked like they were going to collapse. They held support around the 2627 area on the NDX and jumped to 2652 just before the close. The S&P 500 jumped from 1398 to 1406 and closed at the afternoon highs going away. A very strong, late surge in a 5-wave advance in the afternoon took the indices way back up, led by Apple Inc. (AAPL), up 18.03 to 589.53, reaching 590 at one point in the day, and is now 85 points off its low.

Net on the day, the Dow was down 42.31 at 12,967.37. The S&P 500 was down 2.86 to 1406.29. The Nasdaq 100 closed up 12.08 to 2,651.67.

TheTechTrader.com board had many other gainers today. Low-priced stocks took over. China BAK Battery, Inc. (CBAK) jumped 93 cents to 2.65, or 54%, and Oclaro, Inc. (OCLR) popped 43 cents to 2.09, or 26%, on 1.9 million shares in a late rally.

Other gainers of note included Impac Mortgage Holdings Inc. (IMH), up 1.88 to 14.21, or 15%. Celsion Corp. (CLSN), one of our swing trades, spiked 1.14 to 7.80, or 17%, on 4.3 million shares. 3D Systems Corp. (DDD) advanced 4.81 to 46.55, or 11 1/2%, on 1.5 million shares.

In addition, Nam Tai Electronics, Inc. (NTE) was up 1.40 to 15.60, or 10%, on 1.9 million shares. Pandora Media, Inc. (P) gained 74 cents to 8.58, or 10%, on 5.7 million shares.

Smart Balance, Inc (SMBL) was up 94 cents to 11.61, Stratasys Inc. (SSYS) up 5.19 to 75.97, Restoration Hardware Holdings, Inc. (RH) 2.50 to 37.99, Facebook, Inc. (FB) 1.94 to 25.94, on 123 million shares, and Sarepta Therapeutics, Inc. (SRPT) 1.66 to 31.01.

On the downside, the only point-plus loser on our board today was Google Inc. (GOOG), which got hammered for 6.82 to 661.15.

Stepping back and reviewing the hourly chart patterns, the indices gapped down, bounced back and made lower lows by midmorning, only to turn around in a 5-wave advance the rest of the session, and moved back to session highs on the NDX and afternoon highs on the S&P 500.

The indices had very good closes despite the early weakness. We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices had a choppy but positive day today.

The day started out with a big burst to the upside to new rally highs. The indices tested resistance but couldn’t get through, and then rolled over rather sharply but held support. They then moved in a 5-wave advance over the next several hours to reach new highs, making nominal new highs on the S&P 500, a little lower on the NDX. They backed off in the last 45 minutes, only to bounce into the close.

Net on the day, the Dow was up 48.38 at 12,836.44, just 9 points off the high. The S&P 500 was up 3.22 at 13912.03, pennies off its high and 5 points off its low. The Nasdaq 100 closed up 5.82 at 2600.48, about 4 points off its high and 13 points off its low.

Advance-declines were more than 2 to 1 positive on the New York Stock Exchange, and a little less than 2 to 1 positive on Nasdaq. Up/down volume was 2 to 1 positive on New York, with total volume of 410 million shares. Nasdaq traded over 1.4 billion and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mostly higher, although some of the large-cap stocks were narrow. Apple Inc. (AAPL) was only up 79 cents to 561.70, 6 points off its high and 5 points off its low. Amazon.com Inc. (AMZN) jumped 4.25 to 238.03.

Outstanding winners today were Facebook, Inc. (FB) up 1.22 to 24.32, Onyx Pharmaceuticals, Inc. (ONXX) up 2.12 to 76.58, and Repros Therapeutics Inc. (RPRX), which we highlighted today, up 1.18 to 15.09. SodaStream International Ltd. (SODA) rose 1.50 to 36.10, and Sarepta Therapeutics, Inc. (SRPT) 1.33 to 28.33.

Other stocks of note on our board today included low-priced gainers. VIVUS Inc. (VVUS) jumped 1.38 to 11.73, or 13%, on 16 million shares. MBIA Inc. (MBI) gained 87 cents to 8.08, or 12%, on 2.2 million shares. Skechers USA Inc. (SKX) closed up 1.72 to 18.68, or 10%, on 1.4 million shares.

Zipcar, Inc. (ZIP) was up 70 cents to 8.23, Infinity Pharmaceuticals, Inc. (INFI) up 2.45 to 25.90, Thor Industries Inc. (THO) 2.24 to 37.24, Movado Group, Inc. (MOV) 2.23 to 31.44, Electronics for Imaging, Inc. (EFII) 1.20 to 17.93, and Fusion-io, Inc. (FIO) 1.11 to 24.11.

On the downside, the only stock down as much as a point was Google Inc. (GOOG), down 4.10 to 665.87.

Stepping back and reviewing the hourly chart patterns, the indices were up early and back down early, holding support, which triggered a 5-wave advance into the late afternoon. They were able to break through and they did back off, but firmed up into the close.

It was a very nice day before the Thanksgiving holiday.

Happy Thanksgiving everyone.

Good Trading!

Harry

The stock market indices had a consolidation session and quite a volatile one by the end of the day. They ended the day back up near flat after a very steep pullback caused by Fed Bernanke’s comments about the fiscal clip rollover. He said they won’t be able to do anything about it, an irresponsible statement, in my opinion, but that’s the way it goes.

The day started out with a gap down. They rallied back in 3-wave fashion to the highs for the day just before midday. They began the pullback and rolled over sharply around one o’clock before reaching their session lows midafternoon, and then coming back with a vengeance with the S&P 500 jumping from 1377 to 1388, and the Nasdaq 100 from 2571 to 2595.

Net on the day, the Dow was down just 7.45 at 12,788.51. The S&P 500 was up .93 at 1387.82, 10 points off its low. The Nasdaq 100 closed down 1.17 at 2594.66, about 24 points off its low.

Advance-declines were positive 360 issues on the New York Stock Exchange, but negative by 120 issues on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 625 million shares. Nasdaq traded over 1.55 billion and had a 8 to 7 positive volume ratio.

TheTechTrader.com board was mixed with Google Inc. (GOOG) up 1.76 to 669.97, Apple Inc. (AAPL) down 4.82 to 560.91, but Amazon.com Inc. (AMZN) up 4.07 to 233.78.

Other gainers of note included Netflix Inc. (NFLX) up 1.04 to 82.40, Onyx Pharmaceuticals, Inc. (ONXX) up 1.45 to 74.46, and Affymax, Inc. (AFFY) 60 cents to 23.26.

The Direxion Daily Financial Bull 3X Shares (FAS) jumped 1.54 to 104.28, and the Direxion Daily Small Cap Bull 3X Shares (TNA) was up just 34 cents to 52.16 and led the way on 1400% more volume than normal.

In addition, Krispy Kreme Doughnuts, Inc. (KKD) was up 1.77 to 9.31, or 23%, on 9 million shares. Dycom Industries Inc. (DY) gained 2.23 to 17.62, or 15%, on 1.5 million shares. Daktronics Inc. (DAKT) advanced 1.25 to 9.39, or 15%. Cleantech Solutions International, Inc. (CLNT) jumped 89 cents to 4.57, or 24%. Endocyte, Inc. (ECYT) ran up 75 cents to 8.50, or 10%.

DSW Inc. (DSW) was up 5.51 to 67.80, cents to 12.02, Impac Mortgage Holdings Inc. (IMH) up 91 cents to 12.58, Sturm, Ruger & Co. Inc. (RGR) gained 2.69 to 51.52, and Molycorp, Inc. (MCP) jumped 39 cents to 7.02.

ProShares Ultra DJ-UBS Natural Gas (BOIL) popped 2.63 to 55.74. ProShares UltraShort DJ-UBS Crude Oil (SCO) was up 1.92 to 44.48.

Home builders did well today. Ryland Group Inc. (RYL) was up 1.92 to 34.28, and Standard Pacific Corp. (SPF) gained 45 cents to 6.90.

Stepping back and reviewing the hourly chart patterns, the indices were choppy and rallied from the opening pullback in a 3-wave rally up to the session highs near 1390 S&P 500 and just under 2599 NDX. They rolled over very hard in the afternoon but snapped back in a fantastic two-hours rally that took them all the way back to the sharp pullback lows midday to afternoon highs and near the session highs. The S&P 500 managed to get into the plus column, although Dow and NDX did not. They were only off very small losses today.

We’ll see how it goes on tomorrow. It might have been a bullish consolidation day.

Good Trading!

Harry

It was a monster day on Wall Street as the stock market indices gapped up, and just kept running all day in stair-step fashion, including a late spurt into the close to leave the S&P 500 at the session highs going away into the bell, up nearly 27 points.

Net on the day, the Dow was up 207.34 at 12,795.65. The S&P 500 was up 26.99 at 1386.27. The Nasdaq 100 closed up 61.67 at 2595.83, just a point off the high.

Advance-declines were 8 to 1 positive, with 2700 up and 359 down on the New York Stock Exchange, and 4 to 1 positive on Nasdaq. Up/down volume was 15 to 1 positive on New York, with total volume of 678 million shares. Nasdaq traded over 1.7 billion and had a 7 to 1 positive volume ratio.

TheTechTrader.com board was mostly up. It was a big day for large-cap generals on Nasdaq as Apple Inc. (AAPL) jumped 38.05 to 565.73, completing an important short-term low for sure. Google Inc. (GOOG) jumped 21.03 to 668.21. Amazon.com Inc. (AMZN) was up 4.48 to 229.71. International Business Machines Corporation (IBM) snapped back 3.41 to 190.35. Goldman Sachs Group, Inc. (GS) ran up 2.46 to 118.30.

Other gainers included The Home Depot, Inc. (HD), one of our swing trade picks, up 1.21 to 63.33. Conns Inc. (CONN), another of our swing trade picks, was up 1.93 to 28.03. Cobalt International Energy, Inc. (CIE) gained 1.14 to 21.73, Ellie Mae, Inc. (ELLI) 1.39 to 24.69 and Patrick Industries Inc. (PATK) 1.03 to 18.27.

Today we picked Direxion Daily Small Cap Bull 3X Shares (TNA), which was up 3.06 to 51.82. The Direxion Daily Financial Bull 3X Shares (FAS) took back 4.97 to 102.74.

There were a lot of low-priced stocks on our board today that did well. Good Times Restaurants Inc. (GTIM) was up 45 cents to 2.11, or 27%. Ligand Pharmaceuticals Incorporated (LGND) jumped 2.40 to 19.07, or 14%, on 1.1 million shares. Green Mountain Coffee Roasters Inc. (GMCR) popped 2.78 to 27.33, or 11%, on 5.6 million shares. Cirrus Logic Inc. (CRUS), which we traded today, gained 2.56 to 30.83, or 9%, on 3 million shares.

3D Systems Corp. (DDD) was up 3.26 to 41.30, U.S. Silica Holdings, Inc. (SLCA) up 1.28 to 16.73, SINA Corporation (SINA) 3.52 to 48.59, Repros Therapeutics Inc. (RPRX) 89 cents to 13.37, and OmniVision Technologies, Inc. (OVTI) 98 cents to 14.33.

The Direxion Daily Gold Miners Bull 3X Shrs (NUGT), which we traded today, jumped 93 cents to 11.92. VelocityShares 3x Long Silver ETN (USLV) advanced 2.74 to 35.19.

On the downside, the ProShares Ultra VIX Short-Term Fut ETF (UVXY) got hammered for 4.73 to 22.64, and the Direxion Daily Small Cap Bear 3X Shares (TZA) lost 1.19 to 16.98. The ProShares UltraShort Silver (ZSL) dropped 2.44 to 43.67.

Those were the only point-plus losers on our board today.

It was quite a big day for Wall Street and an important technical day as the key declining topsline and moving averages were broken and closed above, with the NDX and S&P 500 near the highs for the day going away.

It was a spectacular session to start the week and an important day technical.

We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices suffered another down day, but managed to find some support.

The day started out with a couple rally attempts that failed at NDX 2542 and S&P 500 at 1360. They then rolled over in the morning, bounced back midday, and then rolled over to retest late in the session successfully, and then bounced back.

Net on the day, the Dow was down 28.57 at 12,542.38, 47 points off the low. The S&P 500 was down 2.16 at 1353.33, 5 points off its low. The Nasdaq 100 was down 7.51 at 2524.36, about 10 points off its low.

Advance-declines were worse than 2 to 1 negative on the New York Stock Exchange, and 3 to 2 negative on Nasdaq. Up/down volume was 4 to 3 negative on New York, with total volume of 750 million shares. Nasdaq traded just around 2 billion and had an 11 to 8 negative volume ratio.

TheTechTrader.com board was mixed. Leading the way to the downside today was Apple Inc. (AAPL), down 11.26 to 525.62, reaching 522.62 near the May lows. Google Inc. (GOOG) dropped 5.29 to 647.26. Amazon.com Inc. (AMZN) lost 2.35 to 220.60.

Other stocks of note on the downside included Affymax, Inc. (AFFY), down 1.50 to 21.32, AOL Inc. (AOL) down 1.29 to 35.07, Ellie Mae, Inc. (ELLI) 1.46 to 21.68, SodaStream International Ltd. (SODA) 1.06 to 34.08, and VirnetX Holding Corp (VHC) lost 1.54 to 30.43.

On the plus side, Netflix Inc. (NFLX) jumped 1.70 to 81.48, on continuing rumors of pending takeover. SGOCO Group, Ltd. (SGOC) gained 82 cents to 1.85, or 80%. Cleantech Solutions International, Inc. (CLNT) popped 1.13 to 3.85, or 42%, on 1 million shares. MeetMe, Inc. (MEET) advanced 91 cents to 3.15, or 41%.

The star of the day was Recon Technology, Ltd. (RCON), up 1.60 to 2.76, or 137%, on3.6 million shares.

So there were some strong percentage gainers today.

In addition, China Auto Logistic Inc. (CALI) was up 1.42 to 5.66, or 33%, on 4.3 million shares, but traded as high as 7.48 earlier. AcelRx Pharmaceuticals, Inc. (ACRX) gained 73 cents to 3.93, or 23%, on 2.1 million shares.

NetApp, Inc. (NTAP) was up 3.08 to 30.20, Supernus Pharmaceuticals, Inc. (SUPN) up 1.11 to 12.65, Nationstar Mortgage Holdings Inc. (NSM) 1.74 to 25.49, Canon Inc. (CAJ) 1.69 to 32.08, Lexmark International Inc. (LXK) 1.20 to 23.32, Forum Energy Technologies, Inc. (FET) 1.20 to 23.79, GameStop Corp. (GME) 1.02 to 24.50, and PetSmart, Inc. (PETM), 2.63 to 67.48, on earnings.

Stepping back and reviewing the hourly chart patterns, the indices popped up a little bit at the opening, came down sharply, and then ran right back up to those highs to test, but when they couldn’t get through, they rolled over to new multi-session lows under 2520, near 2515 on the NDX and at 1313.48 S&P 500. They bounced into midafternoon, but when they couldn’t take out the overhead declining topsline for the down channel in the last 3 sessions, they rolled over to retest the lows and bounced into the close.

It was a sloppy day with negative technical.

We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices got hit and hit hard, but they had a much different opening, with a gap up, and futures higher despite the opening, only to fail quickly, and then rollover hard. They bounced mid to late morning, and then settled into a consolidation that looked like bear wedges. They certainly were open when in the afternoon they cracked hard and slid steadily. In the afternoon alone the NDX dropped from 2560 down to 2528. The S&P 500 at that point dropped from 1371 to 1347. Although in the last 5 minutes they did bounce, they didn’t manage to put much of a dent in the decline.

Net on the day, the Dow was down 185.23 at 12,570.95, about 28 points off the low. The S&P 500 was down 19.04 at 1355.49, about 3 points off its low. The Nasdaq 100 was down 29.99 to 2531.87, only 3 points off its low.

So it was a miserable day on Wall Street today.

Advance-declines were almost 9 to 1 negative on the New York Stock Exchange, with 325 up and 227 down, and 4 to 1 negative on Nasdaq. Up/down volume was 11 to 1 negative, or more, on New York, with total volume of 820 million shares. Nasdaq traded 2 billion and had a 2 1/2 to 1 negative volume ratio.

So increasing volume as the indices goes down, the oscillators extremely oversold.

TheTechTrader.com board has a lot of losers today. Leading the way to the downside, Google Inc. (GOOG) was down 6.50 to 652.55, Apple Inc. (AAPL) lost 6.02 to 536.88, Amazon.com Inc. (AMZN) was down 3.65 to 222.95, International Business Machines Corporation (IBM) down 2.81 to 185.51, and Goldman Sachs Group, Inc. (GS) 2.23 to 114.24.

The Home Depot, Inc. (HD) gave back 1.91 to 61.47, Onyx Pharmaceuticals, Inc. (ONXX) dropped 3.11 to 71.40, Sarepta Therapeutics, Inc. (SRPT) reversed sharply midday and dropped 1.58 to 25.28, VirnetX Holding Corp (VHC) was down 1.71 to 31.97, and AOL Inc. (AOL) gave back 1.89 to 36.36.

The Direxion Daily Financial Bull 3X Shares (FAS) lost 5.25 to 95.16, and the Direxion Daily Small Cap Bull 3X Shares (TNA) dropped 2.77 to 48.44.

On the plus side, the ProShares Ultra VIX Short-Term Fut ETF (UVXY) jumped 1.75 to 29.41.

Other gainers included China Auto Logistic Inc. (CALI), up 2.67 to 4.24, or 170%, on 1.2 million shares. Teavana Holdings, Inc. (TEA) gained 5.32 to 15.45, or 52.52%, on 6.5 million shares as they announced late in the session that Starbucks was acquiring them. Innotrac Corp. (INOC) advanced 97 cents to 2.94, or 49%. Novogen Limited (NVGN) ran up 1.36 to 6.29, or 28%. Royale Energy Inc. (ROYL) spiked 60 cents to 3.40, or 21 1/2%. Synergy Pharmaceuticals, Inc. (SGYP) gained 62 cents to 3.75, or 20%.

Abercrombie & Fitch Co. (ANF) was the star of the day, up 10.74 to 41.92, or 35%, on 35 million shares.

Frontline Ltd. (FRO) jumped 60 cents to 3.82, or 1%, on 3.2 million shares. Facebook, Inc. (FB) jumped 2.50 to 22.36, or 13%, 229 million shares.

In addition, Vipshop Holdings Limited (VIPS) was up 1.12 to 12.45, Woodward, Inc. (WWD) up 2.46 to 34.53, Greenbrier Companies (GBX) 1.03 to 17.76, and Engility Holdings, Inc. (EGL) 1.00 to 19.69.

The Direxion Daily Small Cap Bear 3X Shares (TZA) was up 96 cents to 18.35. The Direxion Daily Financial Bear 3X Shares (FAZ) jumped 95 cents to 19.50.

Stepping back and reviewing the hourly chart patterns, the indices, after a brief opening flurry, they came down all session, pausing midday to consolidate, and then dropping sharply in the afternoon, only to snap back in the last 5 minutes.

It was a very negative session. The indices now are extremely oversold below the bottom of their channel. The channel bottoms from the last couple weeks were broken today indicating a very oversold market.

We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices started the day with a bang. Although they were down early, they came back with a roar and set the session highs just before one o’clock. At that point they were solidly in the plus column, but overhead resistance proved futile. They came down, bounced midday afternoon and rolled over hard the last 2 hours to close at the afternoon lows for the day.

Net on the day, the Dow was down 58.67 at 12,756.41. The S&P 500 was down 5.47 at 1374.56, 14 points off its high and 3 points off its low. The Nasdaq 100 was down 20.91 at 2561.86, about 25 points off its high and 7 points off its low.

Advance-declines were about 2 to 1 negative on the New York Stock Exchange, and 2 to 1 negative on Nasdaq. Up/down volume was worse than 2 to 1 negative on New York, with total volume of 670 million shares. Nasdaq traded over 1.8 billion and had a better than 12 to 5 negative volume ratio.

TheTechTrader.com board was mostly narrowly mixed. Leading the way to the downside, Google Inc. (GOOG) was down 6.85 to 659.05, not far off the low for the day, and broke 4-day support as well. However, Apple Inc. (AAPL) was flat, edging up 7 cents to 542.90, 8 points off its high and 6 points off the low.

There were some gainers today. Good Times Restaurants Inc. (GTIM) was up 56 cents to 2.26, or 33%. ZaZa Energy Corporation (ZAZA) was the leading gainer today, up 44 cents to 1.81, or 32%, on 3 million shares. Dynavax Technologies Corporation (DVAX) gained 56 cents to 4.74, or 13.6%, on 18 million shares. Halcon Resources Corporation (HK) advanced 49 cednts to 5.87, or 9%, on 8.5 million shares.

Greenbrier Companies (GBX) was up 2.78 to 16.73, or 20%, on 2.6 million shares on acquisition of Ichan. Their competitor, American Railcar Industries, Inc. (ARII), jumped 4.68 to 31.16, or 18%.

Diamond Foods, Inc. (DMND) popped 2.58 to 20.43, or 14 1/2%, on 1.2 million shares. Clean Energy Fuels Corp. (CLNE) rose 1.20 to 12.26, or 11%, on 1 million shares.

ProShares Ultra DJ-UBS Natural Gas (BOIL) climbed 4.34 to 53.54. United States Natural Gas (UNG) gained 1.01 to 22.02.

Other stocks of note included Ligand Pharmaceuticals Incorporated (LGND) up 1.25 to 17.80, Repros Therapeutics Inc. (RPRX) up 75 cents to 13.82, and Dick's Sporting Goods Inc. (DKS) 2.27 to 50.97.

On the downside, the Direxion Daily Financial Bull 3X Shares (FAS) was down 1.82, to 100.41. VirnetX Holding Corp (VHC) gave back 1.67 to 33.68.

Stepping back and reviewing the hourly chart patterns, the indices opened lower, sharply so, but came back sharply in a 3-wave rally that brought the S&P 500 from 1372 to 1368 and the NDX from 1255 to 1287. However, they pulled back, retested, and rolled over in the afternoon to close well off the highs, and not that far from the lows, actually.

It was a lousy day indeed.

We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices had a very flat, low-volume session today, although they had some volatility.

The day started out with a gap up, a sharp sell-off in the morning, which stabilized by midday, and then a mid-afternoon rally. The indices reached their declining tops lines and then rolled over in 5-wave declines a little before the close, and then backed off into the close.

Net on the day, the Dow was down .23 at 12,815.16. The S&P 500 was up .15 at 1380.00. The Nasdaq 100 was down 1.33 at 2582.77.

Advance-declines were 15 to 14 negative on the New York Stock Exchange, and 13 to 11 negative on Nasdaq. Up/down volume was 15 to 12 negative on New York, with total volume of only 284 million shares. Nasdaq traded over 1.4 billion and had a 7 to 6 negative volume ratio.

TheTechTrader.com board was mixed. Some of the stocks did very well, but some were narrowly mixed.

Leading the way today was Sarepta Therapeutics, Inc. (SRPT), up 4.38 to 27.13, or 19%, on 2.5 million shares. Other junior biotechs that did well today included Gilead Sciences Inc. (GILD), on positive drug news, up 8.92 to 73.93. Idenix Pharmaceuticals Inc. (IDIX) rose 48 cents to 4.65, Infinity Pharmaceuticals, Inc. (INFI) 1.74 to 20.08, Celsion Corp. (CLSN) 39 cents to 4.99, Dendreon Corp. (DNDN) 27 cents to 4.31, Celgene Corporation (CELG) 4.16 to 75.66, and Synageva BioPharma Corp. (GEVA) 2.47 to 47.13,

Kronos Worldwide Inc. (KRO) jumped 1.09 to 13.76, Vringo, Inc. (VRNG) gained 26 cents to 3.65, OM Group Inc. (OMG) was up 1.25 to 19.81, and Polypore International Inc. (PPO) up 1.81 to 38.82, along with SodaStream International Ltd. (SODA), up 1.79 to 36.54 on news of a deal with Campbell Soup, and Medivation, Inc. (MDVN) up 1.87 to 47.57.

Apple Inc. (AAPL) climbed 4.23 to 542.83, Google Inc. (GOOG) edged up 2.87 to 665.90, and Amazon.com Inc. (AMZN) was nearly unchanged, up 16 cents to 226.47.

On the downside, Cornerstone OnDemand, Inc. (CSOD) lost 1.28 to 26.33, AOL Inc. (AOL) dropped 1.41 to 38.13, and ProShares Ultra VIX Short-Term Fut ETF (UVXY) fell 4.10 to 27.60.

Those were the only point-plus losers on our board today.

Stepping back and reviewing the hourly chart patterns, the indices were up early, pulled back late morning, snapped back sharply early afternoon, and then rolled over in a 5-wave decline to leave the indices unchanged on the day.

Let’s see how Tuesday goes.

Good Trading!

Harry

The stock market indices had an interesting but volatile day today, coming off oversold oscillator readings. The indices bounced from the get-go and retested. When they held, the indices took off in a strong rally, which peaked out just before noon, with the NDX having jumped from 2572 to 2610, a 38-point jump. The S&P 500, at that point, jumped from 1373 to early 1392, about 19 points. So that was a nice, strong rally, but they sold off very quickly and gave back a .618 Fibonacci retracement by early afternoon. They then snapped back and then did another .618 Fibonacci retracement to test the declining topsline, but rolled over again. Although they did bounce a few minutes before the close, in the last 10 minutes they sold off again to the afternoon low and near support to close only very modestly higher.

Net on the day, the Dow was up 4.07 at 12,815.39, 75 points off the high and about the same amount off the low. The S&P 500 was up 2.34 at 1379.84, 12 points off its high and 6 points off its low. The Nasdaq 100 was up 11.53 at 2584.10, about 26 points off its high and 13 points off its low.

So it was a kind of mixed, sloppy, volatile day, and the indices managed to eke out a gain, although technical were flat to slightly lower

Advance-declines were 15 to 14 negative on the New York Stock Exchange, and only 23 issues higher on Nasdaq. Up/down volume was a tad higher on New York and Nasdaq had a little lower volume ratio.

Basically, it was a net-net flat session with the technicals across the board, and today was not the best rally indeed.

TheTechTrader.com board was mixed today. Apple Inc. (AAPL) did bounce from new 6-week’s lows, reaching under 534 this morning, bouncing to 554, a 20-point run before closing up 9.31 to 547.06. Google Inc. (GOOG), which jumped from 650 to 668, closed up 10.74 to 663.03. So Apple and Google did lead the way today. However, Amazon Inc. (AMZN) was down 1.04 to 226.31.

Netflix, Inc. (NFLX) was up 1.93 to 77.90, as merger rumors persist. Onyx Pharmaceuticals, Inc. (ONXX) jumped 1.66 to 74.22. Cliffs Natural Resources Inc. (CLF) closed up 1.18 to 3644. Affymax, Inc. (AFFY) advanced 1.65 to 23.00.

Digital Generation, Inc. (DGIT) jumped 1.52 to 10.00 even, or 18%, on 19 million shares. Sequenom Inc. (SQNM) gained 57 cents to 3.60, or 19%, on 6.8 million shares. Cytori Therapeutics, Inc. (CYTX) popped 61 cents to 3.83, or 19%. Zipcar, Inc. (ZIP) gained 96 cents to 7.00, or 16% on 4 million shares.

Recent swing trade recommendation, Lions Gate Entertainment Corp. (LGF), was up 2.08 to 16.68. Ubiquiti Networks, Inc. (UBNT) was up 1.12 to 11.27, Isis Pharmaceuticals, Inc. (ISIS) up 1.12 to 8.78, POZEN Inc. (POZN) 64 cents to 5.77, Arena Pharmaceuticals, Inc. (ARNA) 79 cents to 836, Cray Inc. (CRAY) 1.31 to 13.32, Westport Innovations Inc. (WPRT) 2.21 to 25.78, magicJack VocalTec Ltd. (CALL) 1.75 to 20.07, and Amarin Corporation plc (AMRN) 95 cents to 11.21. Those were among some of the gainers on our board today.

In addition, Energizer Holdings Inc. (ENR) jumped 5.40 to 76.22, Impac Mortgage Holdings Inc. (IMH) gained 1.04 to 17.39, and Theravance Inc. (THRX) advanced 1.11 to 21.45 rounded out the gainers.

On the downside, there were no stocks down as much as a point today, other than Amazon, which we mentioned above.

So it was not that bad from a loss standpoint, but it was a tainted rally with weak afternoon action.

We’ll see how it goes on Monday.

Good Trading!

Harry

The stock market indices had a very rough session. Futures were up before the opening, and the indices did firm a few minutes into the opening, but then rolled over and were down steadily and sharply all session in 45-degree-angle, declining channels. At the end of the day, the indices rolled over after a late-afternoon rally attempt and consolidation failed. They then rolled over hard, especially the S&P 500, into the close, which dropped 5 points in the last 5 minutes.

Net on the day, the Dow was down 121.41 at 12,811.32. The S&P 500 was down 17.02 at 1377.51, at the exact low for the day and 24 points off its high. The Nasdaq 100 closed down 40.12 to 2572.57, just a few cents off its low.

It was another nasty day on Wall Street, following up with yesterday’s post-election decline.

Advance-declines were 22 to 8 negative on the New York Stock Exchange, and 3 to 1 negative on Nasdaq. Up/down volume was 5 to 1 negative on New York, with total volume of 745 million shares. Nasdaq traded over 1.4 billion and had a 7 to 2 negative volume ratio.

TheTechTrader.com board, as a result, was much lower. Leading the way, Apple Inc. (AAPL) got creamed for 20.25 to 537.75, just a couple points off the low, and the lowest level in six months and 180 points off its high, or about a 25% drop. Google Inc. (GOOG) was down 14.83 to 652.29. Amazon.com Inc. (AMZN) was down 4.71 to 227.35, which didn’t help matters much either.

Those stocks were very material in leading the market lower today.

So market generals really got hammered today and took the rest of the indices down with them.

Goldman Sachs Group (GS) was down 2.71 to 115.27, International Business Machines Corporation (IBM) down 1.06 to 190.10, and Netflix, Inc. (NFLX) 1.71 to 75.97, all just pennies off their low. So this was just one disaster after another.

Stocks on the upside included VirnetX Holding Corp (VHC), up 2.80 to 36.41, on positive court ruling, and Vringo, Inc. (VRNG) up 26 cents to 3.50, on 7 million shares.

Other gainers of note included InterMune Inc. (ITMN), up 1.36 to 9.52, or 17%, on 6 million shares, and trading as high as 9.87 earlier in the day. Perion Network Ltd (PERI) jumped 1.22 to 9.02, or 16%. Sapient Corp. (SAPE) gained 1.54 to 11.44, or 16%, on 3.8mils. EZchip Semiconductor Ltd. (EZCH), which we traded today, was up 4.44 to 34.80, or 15%, on 3 million shares. Rofin-Sinar Technologies Inc. (RSTI) jumped 2.32 to 20.25, or 13%.

In addition, Bloomin' Brands, Inc. (BLMN), the new IPO for Outback Steak Houses, was up 1.73 to 15.46, or 13%, on 1.6 million shares after an earnings report. Nxstage Medical, Inc. (NXTM) gained 1.12 to 11.73, or 11%, on 1.1 million shares.

Bottomline Technologies (de), Inc. (EPAY) was up 1.89 to 24.57, Salix Pharmaceuticals Ltd. (SLXP) up 2.84 to 40.81, on earnings, Impac Mortgage Holdings Inc. (IMH) 1.10 to 16.35, Plexus Corp. (PLXS) 1.37 to 21.88, and 3D Systems Corp. (DDD) 2.68 to 46.02.

Stepping back and reviewing the hourly chart patterns, the indices were up for a brief period in the morning, rolled over in a beautiful, parallel, down channel all session on both indices, only to be interrupted a couple times by rally attempts, which failed at declining moving averages and overhead resistance. Simply, we’ve come down hard and fast and is now on the Nasdaq 100 near the bottom of a major declining channel and getting oversold.

I’m not sure if we’re oversold yet, but another day or two of this, and we’ll be out of power. Expect some kind of rally. We are at a cycle low at this point, projected to be Nov 9, which is tomorrow.

We’ll see how it goes.

Good Trading!

Harry

The stock market indices got creamed today following the elections last night. They had big gaps down at the opening, and very, very sharp sell-offs into late morning when they reached their session lows just above 2600 on the NDX and near 1388 on the S&P 500. That breakdown, below 1403 S&P 500, was a key break that could lead to much lower levels . We are very concerned. They did rally back in stair-step fashion in a 5-wave rally that took the NDX from 2602 to 2629. The S&P 500 at that point had rallied from the morning lows at around 1388 to 1403 roughly. In the last half hour they rolled over hard into the close and closed with massive losses.

Net on the day, the Dow was down 312.95 at 12,932.73, about 50 points off the low. The S&P 500 was down 33.86 at 1394.53, a definitive breakdown today. That was about 6 points off its low. The Nasdaq 100 was down 68.36 to 2612.69, a 2 1/2-3% loss today, and about 10 points off its low.

Advance-declines were nearly 5 to 1 negative on the New York Stock Exchange, and nearly 6 to 1 negative on Nasdaq. Up/down volume was 11 to 1 negative on New York, with total volume of 870 million shares. Nasdaq traded over 2 billion and had an 8 to 1 negative volume ratio.

It was a very, very negative day today.

TheTechTrader.com board was very negative across the board. Apple Inc. (AAPL), for instance, was down 22.20 to 558.00, only a couple points off the low, and Google Inc. (GOOG) dropped 14.60 to 667.12. Amazon (AMZN) lost 5.50 to 232.06.

Peabody Energy Corp. (BTU), in a very negative coal sector, gave back 2.80 to 26.24, as President Obama is in favor of the development of alternatives to fossil fuels. AOL Inc. (AOL) dropped back 3.63 to 40.07.

Goldman Sachs Group (GS) was down 8.27 to 117.98, International Business Machines Corporation (IBM) down 3.06 to 191.16, and Onyx Pharmaceuticals, Inc. (ONXX) 2.14 to 73.66.

The Direxion Daily Financial Bull 3X Shares (FAS) dropped 9.78 to 104.14, and the Direxion Daily Small Cap Bull 3X Shares (TNA) lost 4.32 to 54.47.

On the plus side, the ProShares Ultra VIX Short-Term Fut ETF (UVXY) jumped 4.34 to 31.34, not far off the high.

Other gainers of note included Netflix, Inc. (NFLX), up 1.31 to 77.68, on takeover rumors, and SodaStream International Ltd. (SODA), up 1.39 to 35.55, on earnings. It traded as high as 37.01.

The winner of the day was VirnetX Holding Corp (VHC), on a positive court ruling against AAPL, up 7.32 to 33.61.

Among other stocks of note on our board that did very well today, Procera Networks, Inc. (PKT), one of our favorites for the year, jumped 2.95 to 23.24, on solid earnings. Low-priced FAB Universal Corporation (FU) gained 40 cents to 3.23, or 14%. Mobile Mini, Inc. (MINI) advanced 2.31 to 19.91, or 13%. Tangoe, Inc. (TNGO) spiked 1.63 to 14.51, or 13%, on 2.3 million shares. BroadSoft, Inc. (BSFT) was up 2.75 to 32.56.

In the healthcare sector, three stocks we recommended for trades were up today. Centene Corp. (CNC) jumped 4.01 to 43.88, or 10%, on 2.6 million shares. HCA Holdings, Inc. (HCA) was up 2.92 to 33.85, or 10%, on 9.5 million shares, and Tenet Healthcare Corp. (THC) gained 2.39 to 27.34, or 10%, on 9.5 million shares.

In a very strong gun manufacturer sector, Sturm, Ruger & Co. Inc. (RGR) was up 3.04 to 47.68 and Smith & Wesson Holding Corporation (SWHC) up 91 cents to 10.37.

ProShares UltraShort DJ-UBS Crude Oil (SCO) popped 3.51 to 46.91.

Stepping back and reviewing the hourly chart patterns, the indices were sharply lower in the morning, and came back in a 5-wave retracement in the afternoon, but rolled over into the close for a very negative session.

We’ll see what happens in the days to come.

Good Trading!

Harry

The stock market indices had a tremendous rally late morning that, despite the afternoon pullback, put them solidly in the plus column today.

The day started out with some backing and filling action. Actually there was an early dip on the Nasdaq 100, but the S&P 500 held up very well. Late morning when they broke through the 1424 area on the S&P 500, the S&P 500 and NDX both surged sharply, rallying in a spike-up mode, taking the NDX all the way up to 2696.46 and the S&P 500 to 1433.38. They then pulled back rather dramatically, especially on the Nasdaq 100, giving back about 20 quick points, and about 7 points on the S&P 500. They did manage to firm up a little bit into the close.

Net on the day, the Dow was up 133.24 at 13,245.68, 45 points off the high. The S&P 500 was up 11.13 at 1428.39, 5 points off its high but still a good gain. The Nasdaq 100 closed up 8.14 to 2681.05, about 15 points off its high, so basically, the NDX did not perform today.

Advance-declines were 21 to 9 positive on the New York Stock Exchange, and 2 to 1 positive on Nasdaq. Up/down volume was nearly 5 to 1 positive on New York, with total volume of 654 million shares. Nasdaq traded just under 1 3/4 billion and had a 3 to 2 positive volume ratio.

TheTechTrader.com board was mixed but there were some really strong gainers today. Leading the way was AOL Inc. (AOL), up 7.89 to 43.70, or 22%, on 10 million shares on great earnings.

Amazon.com Inc. (AMZN) was up 3.23 to 237.66, but Apple Inc. (AAPL) was down 1.77 to 582.85, and Google Inc. (GOOG) gave back 1.24 to 681.72.

Other point plus gainers included Ellie Mae, Inc. (ELLI), up 1.15 to 24.10, First Solar, Inc. (FSLR) up 1.47 to 24.79, Goldman Sachs Group (GS) 2.17 to 126.25, and Patrick Industries Inc. (PATK) 1.25 to 19.34.

Low-priced Novogen Limited (NVGN) jumped 1.88 to 4.12, or 75%, on 10,000% increase in volume. Office Depot, on rumors of merging with Office Max, gained 48 cents to 2.99, or 19%, on 20 million shares, while OfficeMax Incorporated (OMX) popped 89 cents to 8.33, or 12%, on 5.7 million shares. Rosetta Genomics, Ltd. (ROSG) snapped back 69 cents to 4.68, or 17%, on 3.3 million shares.

Fabrinet (FN) ran up 3.05 to 12.75, or 31%. EnerNOC, Inc. (ENOC) gained 2.37 to 14.05, or 20%, on 1.6 million shares. Computer Sciences Corporation (CSC) advanced 5.34 to 36.80, or 17%, on 7.3 million shares, on strong earnings. Weight Watchers International, Inc. (WTW), on strong earnings, jumped 7.89 to 55.37, or 17%, on 3.2 million shares. Vitamin Shoppe, Inc. (VSI) ran 8.37 to 61.67, or 16%, on 1.3 million shares. Jive Software, Inc. (JIVE) closed up 1.55 to 12.75, or 14%, on 4.4 million shares.

Also, Myriad Genetics Inc. (MYGN) was up 3.80 to 30.65, Pike Electric Corporation (PIKE) up 1.34 to 10.59, Alon USA Energy, Inc. (ALJ) 1.64 to 14.56, Sykes Enterprises, Incorporated (SYKE) 1.46 to 15.60, Winnebago Industries, Inc. (WGO) 1.38 to 14.37, Medifast Inc. (MED) 2.29 to 29.11, and Synaptics Inc. (SYNA) 1.67 to 25.51.

On the downside, VIVUS Inc. (VVUS) was the big loser today, down 3.13 to 11.82, or 21%, on poor earnings report, and a negative report regarding reimbursement for their drug. Pharmacyclics Inc. (PCYC) got hammered even further today, down 2.25 to 49.08. Netflix, Inc. (NFLX) lost 1.87 to 76.37.

The ultra-shorts got hammered with the ProShares Ultra VIX Short-Term Fut ETF (UVXY) down 2.27 to 27.00. The ProShares UltraShort Silver (ZSL) was down 264 to 45.80.

Stepping back and reviewing the hourly chart patterns, the indices went back and forth in the morning forming wedges, then broke out late morning, spiked up right around noon to reach the session highs, and then pulled back in the afternoon rather dramatically, only to bounce into the close to preserve some of the gains.

It was a nice day, indeed, but still, we remain below key-overhead resistance levels now at 2702 on the NDX and around the 1333-4 level on the S&P 500.

Let’s see what happens after today’s election.

Good Trading!

Harry

The stock market indices, pre-election day, were volatile, but the day ended in the plus column after a nice surge.

The day started out with a move up and then a quick move down, with the S&P 500 reaching 1408, a 3-day low. But the indices bounced sharply reaching the session highs at their resistance level. When they weren’t able to get through, they backed off to retest. The NDX went all the way back to test the morning lows and held. The S&P 500 made a higher low, and then they took off in a 5-wave advance. The S&P 500 jumped from 1410 to 1420, and the NDX from 2653 to 2679. In the last 10-15 minutes they backed off as Intel Corporation (INTC) got hit with some rumors about Apple Inc. (AAPL) contemplating switching INTC chips. As a result, ARM Holdings plc (ARMH) ran up. Nevertheless, it was a solid day.

Net on the day, the Dow was up 19.28 at 13,112.44. The S&P 500 was up 3.06 at 1417.26, 2 1/2 points off its high and 9 points off its low. The Nasdaq 100 closed up 16.63 to 2672.91, about 6 points off its high and 21 points off its low.

Advance-declines edged in the plus column, 16 to 14 positive on the New York Stock Exchange, and 3 to 2 positive on Nasdaq. Up/down volume was less than 3 to 2 positive on New York, with total volume of 584 million shares. Nasdaq traded over 1.6 billion and had a better than 2 to 1 positive volume ratio.

TheTechTrader.com board was narrowly mixed for the most part, but there were some outstanding stocks, particularly some of our favorites. Apple Inc. (AAPL) was up 7.82 to 584.62, but Google Inc. (GOOG) was down 4.96 to 682.96. Amazon (AMZN) was up 1.91 to 234.33. Netflix (NFLX) jumped 1.34 to 78.24.

Other point plus gainers included Patrick Industries Inc. (PATK) up 1.09 to 18.09, Sarepta Therapeutics, Inc. (SRPT) up 1.34 to 23.85, and SolarWinds, Inc. (SWI) 1.55 to 52.16.

Vringo, Inc. (VRNG), one of our leader, jumped 1.18 to 3.95, or 42.6%, on 16 million shares. Primo Water Corporation (PRMW) gained 40 cents to 1.14, or 54%, on 3 million shares, a 1200% increase in volume. Low-priced icad Inc. (ICAD) gained 85 cents to 3.00 even, or 40%. Equal Energy Ltd. (EQU) advanced 49 cents to 3.59, or 16%. InterMune Inc. (ITMN) exploded 1.13 to 8.98, or 4%, on 1.9 million shares. Strategic Hotels & Resorts, Inc. (BEE) ran 74 cents to 6,31m or 13%, on 14 million shares.

Our stock of the day, Nam Tai Electronics, Inc. (NTE), on great earnings, made its way up 4.41 to 15.12, or 41%, on 7.5 million shares. We traded it today.

BioMarin Pharmaceutical Inc. (BMRN) was up 11.66 to 49.07, or 31%, on 13 million shares. Bruker Corporation (BRKR), which we traded today, gained 1.91 to 14.50, or 15%, on 2.7 million shares.

hhgregg, Inc. (HGG) jumped 90 cents to 8.50, or 12%, on 2.4 million shares. Array BioPharma, Inc. (ARRY) was up 43 cents to 4.51, or 11%, on 1.8 million shares.

Turquoise Hill Resources Ltd. (TRQ) was up 77 cents to 8.93, REEDS, Inc. (REED) up 70 cents to 8.12, Tesla Motors, Inc. (TSLA) 2.58 to 31.50, SINA Corporation (SINA) 4.25 to 57.30, The Brink's Company (BCO) 1.49 to 27.69, and Transocean Ltd. (RIG) 2.58 to 48.64. On the downside, the only two stocks down more than a point today were Pharmacyclics Inc. (PCYC) down to 46.56, only to rally back to 51.33, down 6.04, and SodaStream International Ltd. (SODA), down 1.67 to 34.82.

Stepping back and reviewing the hourly chart patterns, the indices were down early, then rallied sharply midmorning, only to pull back early afternoon to retest. When that was successful, they came on sharply during the last three hours in a 5-wave advance, reaching the session highs within 15 minutes of the close, only to pull back into the close before election day.

It was a nice day for the indices and most of the stocks we traded today.

We’ll see how it goes on tomorrow.

Good Trading!

Harry

The stock market indices closed out the week on a very sour note as the early rally from the get-go faded. They consolidated late morning, began to rollover during the noon hour and acerbated the sell-off sharply in the afternoon. The range was 2701.91 on the Nasdaq 100 at the high, but down to 2654.97, a reversal of more than 50 points.

Net on the day, the Dow was down 139.46 at 13,093.16, taking back nearly all of yesterday’s gains, and closing nearly 200 points off its high. The S&P 500 was down 13.39 at 1414.20, reaching as high as 1434 earlier in the day, 20 points off the low. The Nasdaq 100 closed down 37.93 to 3124.56, led by Apple Inc. (AAPL), which was down 19.74 to 576.80, a new 4-month low.

Advance-declines were 21 to 9 negative on the New York Stock Exchange, and 3 1/2 to 1 negative on Nasdaq. Up/down volume was nearly 3 to 1 negative on New York, with total volume of 765 million shares. Nasdaq traded over 1.8 billion and had a 3 to 1 negative volume ratio.

TheTechTrader.com board was mostly lower. International Business Machines Corp. (IBM) was down 3.72 to 193.43, Goldman Sachs (GS) lost 1.60 to 123.25, First Solar, Inc. (FSLR) gave back 2.21 to 22.54, Cliffs Natural Resources Inc. (CLF) lost 1.45 to 36.27, and Peabody Energy Corp. (BTU) was down 1.13 to 28.15.

Pharmacyclics Inc. (PCYC) was down 4.09 to 57.37, and Onyx Pharmaceuticals, Inc. (ONXX) dropped 4.00 to 76.33,

There were also some winners on our board today. Big 5 Sporting Goods Corp. (BGFV) had a big day today, up 3.10 to 12.02, or 35%, on 2 million shares, a 22,000 increase in normal volume. Assisted Living Concepts Inc. (ALC) gained 1.63 to 9.64, or 20%. Enzo Biochem Inc. (ENZ) advanced 48 cents to 2.78, or 21%, on 3 million shares. TripAdvisor Inc. (TRIP) jumped 5.71 to 35.12, or 19 1/2%, on 12.6 million shares on earnings.

Tutor Perini Corporation (TPC) was up 1.88 to 12.09, or 18%, on 1.3 million shares. Dendreon Corp (DNDN) popped 62 cents to 4.47, or 16%, on 29 million shares. Cooper Tire & Rubber Co. (CTB) gained 2.70 to 22.85, or 13%, on 6 million shares.

Other gainers of note on our board today included U.S. Silica Holdings, Inc. (SLCA) up 1.38 to 14.25, Starbucks Corporation (SBUX) up 4.22 to 50.84, and up ManTech International Corporation (MANT) 2.10 to 25.63.

Priceline.com Inc. (PCLN) was the big winner of the day, up 48.64 to 634.74, and saved the day for Nasdaq 100 today, especially with Apple down nearly 20.

In addition, the ProShares UltraShort Silver (ZSL) was up 3.68 to 49.24.

Stepping back and reviewing the hourly chart patterns, the indices were up early, and then down the rest of the day, closing near the session lows going away.

It was a lousy way to end the week on such a negative note as the overall patterns are still in major down channels, and have been, particularly on Nasdaq 100, since they reached their peak in late Sept. So we’re in a 6-week declining phase now, having the NDX dropping from nearly 2880 down to 2640, that’s 240 points. Then the rally this week, and today’s pullback, took back a big chunk of those gains, more than a .168 Fibonacci retracement.

We’ll see how it goes on Monday.

Good Trading!

Harry

The stock market indices spent much of the afternoon consolidating, but the morning saw a big run-up.

The day started out with a strong opening. The indices reached their session highs by noon, and then pulled back, but held support and consolidated the rest of the afternoon in a beautifully formed flag or coil, which may lead to more upside.

Net on the day, the Dow closed up 136.16 at 13,232.62, 11 points off the highs. The S&P 500 was up 15.43 at 1427.59, less than a point off the high. The Nasdaq 100 was up 39.60 at 3687.52, 3 points off its high.

Advance-declines were 3 1/2 to 1 positive on the New York Stock Exchange, and 2 to 1 positive on Nasdaq. Up/down volume was 4 to 1 positive on New York, with total volume of 785 million shares. Nasdaq traded over 1.86 billion and a 4 to 1 positive volume ratio.

Technicals were very strong today.

TheTechTrader.com board was mostly higher today. Large-cap stocks edged into the plus column. Google Inc. (GOOG) was up 7.29 to 687.59, Apple Inc. (AAPL) jumped 1.22 to 596.54, Goldman Sachs (GS) snapped back 2.46 to 124.85, and International Business Machines Corp. (IBM) took back 2.62 to 197.15.

Other gainers of note on our board today included Direxion Daily Financial Bull 3X Shares (FAS), up 4.12 to 113.25, and the Direxion Daily Small Cap Bull 3X Shares (TNA), up 2.13 to 59.22.

In addition, Peabody Energy Corp. (BTU) was up 1.38 to 29.28, Cliffs Natural Resources Inc. (CLF) up 1.45 to 37.72, Onyx Pharmaceuticals, Inc. (ONXX) 1.99 to 80.33, Sarepta Therapeutics, Inc. (SRPT) 1.94 to 23.27, and SolarWinds, Inc. (SWI) 1.30 to 51.89

Percent gainers included Impac Mortgage Holdings Inc. (IMH), which we traded today, was up 3.12 to 13.22, or 31%.Rediff.com India Limited (REDF) jumped 52 cents to 2.46, or 27%. Wabash National Corp. (WNC) gained 1.48 to 7.79, or 23 1/2%, on 4.3 million shares. Gentiva Health Services Inc. (GTIV) advanced 1.99 to 11.35, or 21%.

Prestige Brands Holdings, Inc. (PBH) was up 3.21 to 20.60, or 18%. Newport Corp. (NEWP) jumped 1.82 to 12.64, 16 1/2%. AVG Technologies (AVG) gained 1.51 to 12.00, or 14%, on 1.1 million shares. Sourcefire, Inc. (FIRE) popped 5.69 to 48.48, or 13%, on 4.2 million shares. Vringo, Inc. (VRNG) snapped back 28 cents to 2.85, or 11%, on 14 million shares. Golar LNG Ltd. (GLNG) was up 3.90 to 42.80, Heartland Payment Systems, Inc. (HPY) up 2.48 to 28.56, Visteon Corp. (VC) 4.05 to 48.15, Green Mountain Coffee Roasters Inc. (GMCR) 2.16 to 26.34, and Bon-Ton Stores Inc. (BONT) 1.23 to 13.49.

Catamaran Corporation (CTRX) was up 4.04 to 51.20, Aspen Technology, Inc. (AZPN) up 2.12 to 26.90, Trex Co. Inc. (TREX) 2.34 to 37.28, and IPG Photonics Corporation (IPGP) 3.90 to 57.05.

On the downside, Ellie Mae, Inc. (ELLI) was down 1.47 to 23.53 on earnings, Netflix, Inc. (NFLX) gave back 1.55 to 77.69, and ProShares Ultra VIX Short-Term Futures ETF (UVXY) dropped 5.17 to 26.90.

Stepping back and reviewing the hourly chart patterns, an explosive move broke the indices out across declining moving averages and price resistance, and then they consolidated the rest of the afternoon just beneath initial, overhead resistance. It’s a good sign that the rally can continue.

Good Trading!

Harry

The stock market indices put on a disappointing showing today, closing mixed on the session and had a very nasty sell-off in the morning.

The day started out mixed with the S&P 500 up and the Nasdaq 100 down. They sold off from 2666 to 2640 on the NDX, and went from 1418 1/2 down to 1406 on the S&P 500. Midday, the S&P 500 formed an inverse head-and-shoulders that broke out late in the day and went from 1412 up to 1414 and change, and then backed off.

Net on the day, the Dow closed down 10.67 at 13,096.54, about 40 points off the low and 90 points off the highs. The S&P 500 was up .22 at 1412.16, closing midrange. The Nasdaq 100 was down 17.91 at 2647.92, 8 points off the low, and closed with the worst index today as Apple andAmazon.com led the way to the downside.

Advance-declines were 3 to 2 positive on the New York Stock Exchange, and 13 to 11 positive on Nasdaq. Total volume on New York was over 800 million shares. Nasdaq traded over 1 3/4 billion and had a 10 to 7 negative volume ratio.

TheTechTrader.com board was very unusual today as Apple Inc. (AAPL) was down 8.68 to 595.32, although that was 7 or 8 points off its low. Amazon Inc. (AMZN) lost 5.35 to 232.89, but Google Inc. (GOOG) was up 5.15 to 680.30.

Goldman Sachs (GS) was up 2.95 to 122.39, International Business Machines Corp. (IBM) up 1.26 to 194.53, and Netflix, Inc. (NFLX) 9.66 to 79.24, trading as high as 84.95.

Point-plus gainers on our board today included Great Plains Renewable Energy, which we traded today, up 1.70 to 7.73, or 28%, on 1 million shares. Hansen Medical, Inc. (HNSN) gained 46 cents to 2.27, or 25%, on 2.3 million shares. CommVault Systems, Inc. (CVLT) jumped 8.90 to 62.37, or 17%, on 2.8 million shares. UBS AG (UBS) advanced 1.83 to 15.02, or 14%, on 9.5 million shares.

Medidata Solutions, Inc. (MDSO) was up 4.49 to 42.00, Stewart Information Services Corporation (STC) up 2.69 to 23.36, Barnes & Noble, Inc. up 1.99 to 16.84, JDA Software Group Inc. (JDAS) 4.23 to 38.15, Nam Tai Electronics, Inc. (NTE) 1.18 to 11.84, and Nu Skin Enterprises Inc. (NUS) 5.39 to 47.33,

Cavium, Inc. (CAVM) was up 3.28 to 33.18, AZZ incorporated (AZZ) up 3.53 to 39.44, DigitalGlobe, Inc. (DGI) 2.47 to 25.94, Quanta Services, Inc. (PWR) 2.33 to 25.93, Verisk Analytics, Inc. (VRSK) 4.45 to 51.12, and Eagle Materials Inc. (EXP) 4.75 to 52.97.

General Motors Company (GM) had a big day, up 2.24 to 25.52, or nearly 10%, on 25 million shares, and Ford Motor Co. (F) gained 85 cents to 11.16, or 8%, on 138 million shares. Direxion Daily Gold Miners Bull 3X Shrs (NUGT) jumped 1.45 to 16.55, or nearly 10% today.

Stepping back and reviewing the hourly chart patterns, the indices were mixed at the opening and dropped steadily into the morning. Even though the S&P 500 made a new midday low, the NDX failed to do so and held the morning’s earlier-pullback low, forming a little bottom, and helping the rally back again.

The NDX was very unimpressive today as Apple and Amazon did not cooperate, and leaves us with a lot to be desired.

Good Trading!

Harry

The stock market indices ended mixed, but it was a wild ride. They surged at the opening, reached declining topslines from the last several sessions, and then came down hard in a 5-wave decline to new lows for the entire decline, reaching the bottom of the channel on both the S&P 500 and Nasdaq 100. At that point, they rallied back in a multi-month surge that took the NDX from 2637 to 2676, nearly 40 points straight up. The S&P 500 ran a little more choppily, but went from 1403 to 1417, a 14-point gain. In the last half hour they came down hard, but bounced just before the close, and in the last 5 minutes they snapped back. Basically, they pulled back in the last half hour to finish mixed on the session.

Net on the day, the Dow closed up 3.53 at 13,107.21, about 67 points off the low and 55 points off the high. The S&P 500 was down 1.03 at 1411.94, 8 points off the low and 6 points off the high, also midrange. The Nasdaq 100 was up 2.11 at 2655.83, 30 points off the low and 10 points off the high.

It was a mixed session but technicals were lousy. Advance-declines were 17 to 12 negative on the New York Stock Exchange, and 14 to 10 negative on Nasdaq. Up/down volume was 2 1/2 to 1 negative on New York, with total volume of about 700 million shares. Nasdaq traded 1 3/4 billion shares and had a slight plurality of 9 to 8.

TheTechTrader.com board actually had a strange day because Amazon Inc. (AMZN) jumped 15.32 to 238.24. Netflix, Inc. (NFLX) jumped 8.07 to 69.58 on rumors of a takeover, and International Business Machines Corp. (IBM) was up 1.68 to 193.27. But Apple Inc. (AAPL) lost 5.54 to 604.00 even, and Google Inc. (GOOG) was down 2.61 to 675.15.

Other losers on our board included Constant Contact, Inc. (CTCT), down 5.10 to 11.93, or 30%, on 8 million shares. Immunogen Inc. (IMGN) gave back 2.31 to 11.47, or 17%, on 3.1 million shares, and VeriSign, Inc. (VRSN) dropped 7.21 to 39.39, or 7%, on 23 million shares.

In addition, several junior biotech stocks didn’t fare well today.

On the plus side, there were a lot of stocks on our board today. TASER International Inc. (TASR) jumped 1.68 to 8.07, or 26%, on 6 million shares, and was as high as 8.46 just before the close and profit taking set in. Applied Micro Circuits Corp. (AMCC) gained 1.19 to 5.73, or 26%, on 2.3 million shares. Stamps.com Inc. (STMP) did well today, up 4.40 to 26.20, or 20%, on nearly a million shares.

Low-priced Pilgrim's Corp. (PPC) was up 75 cents to 5.32, or 16%, on 2.4 million shares. Calix Inc. (CALX) popped 94 cents to 6.84, or 16%, on 1.3 million shares. Expedia Inc. (EXPE) had a big day, up 7.81 to 59.06, or 15%, on 13 million shares. Varian Medical Systems Inc. (VAR) was up 8.83 to 66.93, or 15%, on 5 million shares, and Overstock.com Inc. (OSTK) ran 1.99 to 15.49, or 15%, and has been moving sharply of late.

Cerner Corporation (CERN) gained 8.90 to 77.37, or 13%, on 4.6 million shares. Acxiom Corp (ACXM) popped 2.04 to 18.39, or 12 1/2%, on 1.5 million shares. Eastman Chemical Co. (EMN) was up 6.54 to 60.19, or 12%, on 7 million shares. Cloud Peak Energy Inc. (CLD) rose 2.21 to 21.20, or 12%, on 3.8 million shares.

Other gainers of note on our board today included Acme Packet, Inc. (APKT), up 1.63 to 16.92, or 11%, on 4.8 million shares. Cabot Oil & Gas Corporation (COG) advanced 4.31 to 47.46, or 10%, on 7.1 million shares. PerkinElmer Inc. (PKI) gained 2.79 to 31.29, or 10%, on 2.7 million shares.

In addition, Nationstar Mortgage Holdings Inc. (NSM) was up 2.11 to 34.23, and Sears Holdings Corporation (SHLD) advanced 3.77 to 66.69.

Stepping back and reviewing the hourly chart patterns, the indices were up early, but then fell down hard into midday, or late afternoon, when they bottomed out. They rallied back to take back all of the losses, and then some, but pulled back into the close to close mixed on the session to finish the week out in funky fashion.

Good Trading!

Harry

The stock market indices had a sloppy day and basically started the day differently. They opened with gaps to the upside, and then immediately sold off. It was a pretty sharp sell-off that took the indices to new lows. They bounced back midday, forming wedges, but then rolled over into the close. Only into the last 5 minutes did they bounce, with Apple Inc. (AAPL) bouncing off 605 to near 610. However, in after hours, Amazon Inc. (AMZN) and several other companies came out with poor earnings, and the market is down quite a bit. At this point, Amazon Inc. (AMZN) is down 20 points, so there’s a lot of pressure on the Nasdaq 100. We’ll see how it goes tomorrow, but for now it was a weak session in the morning, but with the early gap-ups they still managed to close positive on the session.

Net on the day, the Dow closed up 26.34 at 13,103.68, about 64 points off the low and 61 points off the highs, so it closed mid range. The S&P 500 was up 4.22 at 1412.97, 7 points off the low and 9 points off the high, also mid range. The Nasdaq 100 was up 2.11 at 2657.66, 8 points off the low and 22 points off the high.

Advance-declines were 3 to 2 positive on the New York Stock Exchange, and almost 14 to 10 positive on Nasdaq. Up/down volume was nearly 3 to 2 positive on New York, with total volume of 620 million shares. Nasdaq traded 1.8 billion and had about a 9 to 8 plurality.

TheTechTrader.com board, as a result of today’s action, was mixed, but there were a lot of losers as well as gainers. Point-plus gainers included Cliffs Natural Resources Inc. (CLF), which got hammered on earnings, down 4.49 to 38.20. Amazon Inc. (AMZN) was down 5.57 to 222.92, Apple Inc. (AAPL) down 7.29 to 609.54, SolarWinds, Inc. (SWI) 2.45 to 49.40, and Silicon Motion Technology Corp. (SIMO) 1.19 to 13.46, but came way off its earlier low way under 12.

Other gainers of note on our board today included Angie's List, Inc. (ANGI), up 2.47 to 11.56, or 27%, on 4.1 million shares. Overstock.com Inc. (OSTK) gained 2.56 to 13.50, or 23%, on nearly a million shares. Proto Labs, Inc. (PRLB) jumped 6.03 to 35.96, or 20%, on 1 million shares. LogMeIn, Inc. (LOGM) climbed 3.75 to 23.82, or 18 1/2%, on 1.4 million shares, and Tenneco Inc. (TEN) advanced 3.89 to 30.68, or 14 1/2%, on 3.1 million.

Titan International Inc. (TWI) jumped 2.79 to 21.15, or 15%, on 2.5 million shares. 3D Systems Corp. (DDD) snapped back 4.93 to 40.85, or 14%, on 4.8 million shares. GrafTech International Ltd. (GTI) gained 1.40 to 11.01, or 14 1/2%, on 5.5 million shares. Libbey Inc. jumped 2.01 to 17.03, or13%.

Brunswick Corporation (BC) had a big gap down in the morning, and worked its way up 2.39 to 23.63, or 11%, on 2.3 million shares. NXP Semiconductors NV (NXPI), on good earnings, popped 2.56 to 23.49, or 12%, on 6.1 million shares.

In addition, Stewart Information Services Corporation (STC) jumped 1.51 to 21.78, Aegerion Pharmaceuticals, Inc. (AEGR) gained 1.63 to 22.11, PACCAR Inc. (PCAR) advanced 3.21 to 42.78, Stratasys Inc. (SSYS) popped 4.84 to 66.49, and Akamai Technologies, Inc. (AKAM) closed up 2.43 to 38.54.

The Direxion Daily Gold Miners Bull 3X Shrs (NUGT) snapped back 1.26 to 15.38.

Stepping back and reviewing the hourly chart patterns, the indices had big gaps up at the opening. They sold off all morning, stabilized midday, and then rallied back in the afternoon, but failed at resistance and rolled over, only to snapback in the last 5 minutes to end in the plus column. However, with several stocks coming out on earnings tonight, we may see volatility and/or lower prices tomorrow.

Good Trading!

Harry

The stock market indices had a rough day today, despite big gap ups at the opening. The Nasdaq 100 opened strong and moved up to yesterday’s midday highs, but couldn’t get through the 2686 area. The S&P 500 popped to 1420 resistance, and both failed right there. They immediately sold off, particularly the NDX, which dropped dramatically just before the noon hour from 2686 down to 2655. That’s 31 points lower. The S&P 500 fell in a 3-step fashion from 1420 to 1412. They then bounced midday, and formed rising wedges. The FOMC announcement caused some volatility, and the wedges were broken to the downside. They fell steadily into the close before bouncing a bit, only to back off again, but they all closed down on the day.

Net on the day, the Dow was down 25.19 at 13,077.34, 14 points off the low and 80 points off the high. The S&P 500 was down 4.36 at 1408.75, 1 1/2 points off the low and 12 points off the high. The Nasdaq 100 lost 10.47 to 2655.55, 2 points off its low and 31 points off its high.

Advance-declines were 16 to 13 negative on the New York Stock Exchange, and 13 to 10 negative on Nasdaq. Up/down volume was 2 to 1 negative on New York, with total volume of 641 million shares. Nasdaq traded 1.9 billion, and had a 11 to 7 negative plurality.

TheTechTrader.com board was mixed. Leading the way down today was Amazon Inc. (AMZN), down 5.82 to 228.49, and Netflix, Inc. (NFLX), which dropped 8.10 to 60.12. Google Inc. (GOOG) was down 3.05 to 677.30, but traded 10 points higher earlier.

Other gainers of note included Facebook, Inc. (FB), on earnings, which jumped 3.73 to 23.23, or 19%, on 228 million shares, the second biggest volume in its history after the IPO day. Ellie Mae, Inc. (ELLI) advanced 2.22 to 25.31, while Patrick Industries Inc. (PATK), one of our swing trades, was up 1.39 to 19.49, and SolarWinds, Inc. (SWI) 2.01 to 51.85.

In addition, Monster Beverage Corporation (MNST) was up 6.86 to 47.97, Silicon Laboratories Inc. (SLAB) up 4.92 to 41.03, Molina Healthcare Inc. (MOH) 3.08 to 25.81, and Lumber Liquidators (LL) 5.67 to 55.81. Those were among the large multiple gainers on our board today.

Fortune Brands Home & Security, Inc. (FBHS) gained 2.23 to 29.29, Tupperware Brands Corporation (TUP) was up 4.85 to 59.07, Avery Dennison Corporation (AVY) 2.50 to 32.25, PolyOne Corporation (POL), and Yelp, Inc. (YELP) 1.77 to 25.77.

Also, Gilead Sciences Inc. (GILD) was up 3.43 to 68.34, and AEP Industries Inc. (AEPI) gained 2.40 to 65.09.

On the downside, in addition to the stocks mentioned above, several stocks had a difficult session. Newfield Exploration Co. (NFX) was down 5.86 to 27.46, or 17 1/2%. Tempur Pedic International Inc. (TPX) dropped 6.21 to 25.66, or 191/2%. United Therapeutics Corporation (UTHR) lost 8.29 to 44.99, or 15 1/2%, while Nationstar Mortgage Holdings Inc. (NSM) gave back 3.35 to 31.51, and Buffalo Wild Wings Inc. (BWLD) fell 8.76 to 74.70, or 10%.

Stepping back and reviewing the hourly chart patterns, the indices opened sharply higher, immediately sold off midday, took out support lows on the NDX, but not on the S&P 500. That encouraged traders to buy, but wedges formed, and they were broken in the afternoon. The S&P 500 closed right near yesterday’s lows, and the entire low pullback, as did the NDX.

So we’re in a precarious position here, because any lower levels and we can see a dramatic sell-off. At that point, it may result in a bigger snapback rally, because we will probably be getting oversold enough for a better rally to ensue.

Let’s see how tomorrow goes.

Good Trading!

Harry

The stock market indices had another very bad session. They gapped down huge on problems with Spain being downgraded, bounced, and then made lower lows before rallying midday. At that point, they pulled back sharply to retest and bounced, the S&P 500 making new highs for the snapback rally, but the Nasdaq 100 unable to confirm. They rolled over hard into the close to close down sharply.

Net on the day, the Dow was down 243.36 at 13,102.53, only 19 points off the low. The S&P 500 was down 20.71 at 1413.11, 6 points off the low. The Nasdaq 100 fell 28.54 at 2666.02, 8 points off its low.

Advance-declines were nearly 3 to 1 negative, with 811 up and 2212 down, on the New York Stock Exchange, and about 2 to 1 negative on Nasdaq. Up/down volume was nearly 7 to 1 negative, with 78 million up and 588 million down on New York. Nasdaq traded over 1.8 billion, and had little less than a 2 to 1 negative volume ratio.

TheTechTrader.com board was led down by Apple Inc. (AAPL). It dropped 20.67 to 613.36 despite rallying earlier on the introduction of the new mini iPad, up as high as 634.00 at one point in the day.

Google Inc. (GOOG) managed to gain 1.68 to 680.35, closing 8 points off its low and 7 points off its high, and Amazon.com Inc. (AMZN) was up .53 to 234.31.

Other gainers of note included lower-priced stocks. BSD Medical Corp. (BSDM) was up 31 cents to 2.00, or 18%, on 2.7 million shares. ARM Holdings plc (ARMH) jumped 3.07 to 31.19, or 11%, on 9.2 million shares on solid earnings.

Pandora Media, Inc. (P) was up 76 cents to 9.86, Cynosure, Inc. (CYNO) gained 2.17 to 26.59, or 9%. Harley-Davidson, Inc. (HOG) up 3.36 to 46.89, Coach, Inc. (COH) 3.98 to 58.15, Power Integrations Inc. (POWI) 1.88 to 29.27, Computer Task Group Inc. (CTGX) 1.13 to 18.06, and Ryder System, Inc. (R) 2.39 to 45.82.

In addition, Guidewire Software, Inc. (GWRE) ran 1.18 to 29.94, BroadSoft, Inc. (BSFT) 1.47 to 36.21, Aegerion Pharmaceuticals, Inc. (AEGR) 1.06 to 20.45, and VirnetX Holding Corp (VHC) 1.65 to 29.72, and OSI Systems, Inc. (OSIS) 2.88 to 79.71.

ProShares Ultra VIX Short-Term Futures ETF (UVXY) jumped 4.41 to 32.65, 15.6%, on 8.9 million shares. ProShares Ultra Long DJ-UBS Natural Gas (BOIL), which we traded today, gained 2.05 to 57.02. ProShares UltraShort Silver (ZSL) closed up 2.16 to 47.32.

On the downside, International Business Machines Corp. (IBM) was down 3.15 to 191.25 and Goldman Sachs (GS) lost 3.77 to 119.00.

A couple of the Boxer Shorts did well today. They included Monster Beverage Corporation (MNST), down 4.96 to 41.77, or 10%, on 19 million shares, and Autoliv, Inc. (ALV) down 6.55 to 57.07, or 10.3%, on 3.2 million shares.

Other point-plus losers included Cliffs Natural Resources Inc. (CLF) down 1.44 to 43.55, BioMarin Pharmaceutical Inc. (BMRN) down 2.67 to 38.54, TRW Automotive Holdings Corp. (TRW) 2.67 to 38.54, and Mellanox Technologies, Ltd. (MLNX) 3.91 to 71.39.

The Direxion Daily Financial Bull 3X Shares (FAS) lost 4.94 to 108.60 and the Direxion Daily Small Cap Bull 3X Shares (TNA) dropped 81 cents to 57.04.

Direxion Daily Gold Miners Bull 3X Shrs (NUGT) was down 1.36 to 14.94. Silver Wheaton Corp. (SLW) lost 2.25 to 38.24.

Stepping back and reviewing the hourly chart patterns, the indices were very volatile today. They were sharply lower at the opening, rallied sharply midday, mostly on Apple’s introduction to the mini iPad, rolled over, tested support, bounced, tested support and bounced again, only to back off into the close, closing negative on the session.

The oscillators are now getting oversold. We’ll see how tomorrow goes.

Good Trading!

Harry

The stock market indices had a tremendous rally in the last hour that brought them back into the green, but the day started out quite negatively in down channels where they went all day, making new lows for the pullback on the NDX near 2672. The S&P 500 dropped all the way down to 1422, and in the last couple hours, bounced to resistance, backed off and formed a right handed extended V-pattern. When the last pullback held, they then took off and then accelerated. Short covering set in late in the session, with the NDX jumping from 2672 to 2698, and the S&P 500 from 1422 to 1434. They backed off just a tad into the close.

Net on the day, the Dow was up 2.38 at 13,345.89, 90 points off the low. The S&P 500 was up .62 at 1433.81, nearly 12 points off its low. The Nasdaq 100 up 16.24 at 2694.56, 23 points off its low.

Advance-declines were negative by only 75 issues on the New York Stock Exchange, and about 13 issues on Nasdaq. Up/down volume had a slight plurality to the downside on New York, with total volume of 610 million shares. Nasdaq traded over 1.6 billion, and had a slight plurality to the upside.

TheTechTrader.com board was unusually mixed, and Apple Inc. (AAPL) was by far the star today, up 24.19 to 634.03, as they will debuting their mini-pad tomorrow. They were 24 points off the low and just a point off the high. Peabody Energy Corp. (BTU) was up 3.06 to 28.95, on 34 million shares. Netflix, Inc. (NFLX) jumped 2.90 to 67.88 after they announced that they are moving into seven new countries, including Asia.

Other gainers of note included SUPERVALU Inc. (SVU), on rumors of a takeover, up 96 cents to 3.15, or 45%, on 57 million shares. ZIOPHARM Oncology, Inc. (ZIOP) gained 67 cents to 5.02, or 15%, on 2 million shares. Cyclacel Pharmaceuticals, Inc. (CYCC) advanced 54 cents to 5.76, or 10%.

PetMed Express, Inc. (PETS) jumped 1.05 to 11.15, Affymax, Inc. (AFFY) 1.82 to 26.29, Volcano Corporation (VOLC) 1.89 to 28.74, Koninklijke Philips Electronics NV (PHG) 1.63 to 26.23, and OpenTable, Inc. (OPEN), on a takeover rumor, 2.77 to 46.36. OM Group Inc. (OMG) gained 1.23 to 20.77, Nationstar Mortgage Holdings Inc. (NSM) 1.76 to 34.34, and Questcor Pharmaceutical (QCOR) 1.28 to 26.27.

The coal sector was strong today. Arch Coal Inc. (ACI) was up 50 cents to 8.41, James River Coal Co. (JRCC) gained 31 cents to 5.31, and Alpha Natural Resources, Inc. (ANR) jumped 51 cents to 9.48.

On the downside today, Amazon.com Inc. (AMZN) lost 6.22 to 233.78 and struggled most of the session. Ellie Mae, Inc. (ELLI) was down 1.40 to 23.50, and Google Inc. (GOOG) lost 3.12 to 678.67, also trailing today, but it was 9 points off its low.

Stepping back and reviewing the hourly chart patterns, the indices jumped early, backed off, made new highs early in the session, but then came down in a 3-wave decline from those highs and spiked down into the lows just after the lunch hour. They then snapped back in a big late rally, putting the indices back in the plus column, which was not a surprise since they were extremely oversold.

We’ll see what kind of follow-through we get tomorrow.

Good Trading!

Harry

The stock market indices suffered one of the worst declines of the year today as the early action turned extremely negative. The indices started to fall from the opening, stabilized midday, formed little bear wedges and flags, and rolled over. In the afternoon they managed to stair-step their way lower, reaching as low as 2676 on the Nasdaq 100 at one point. They bounced back up to 2685 on three occasions in the last couple hours, couldn’t get through, and in the last 15 minutes schlepped back, and back hard. The S&P 500, which had drifted all the way back down from the earlier high around 1458 to 1430, snapped back to 1436, but that was the best it could do, and closed near 1433.

Net on the day, the Dow was down 205.43 at 13,343.51, the S&P 500 was down 24.15 at 1433.19, and the Nasdaq 100 closed down 65.85 at 2678.32.

Advance-declines were about 4 to 1 negative on the New York Stock Exchange, and a little worse than that on Nasdaq. Up/down volume was nearly 9 to 1 negative on New York, with total volume of just under 880 million shares. Nasdaq traded over 2.2 billion, and had a 6 to 1 negative volume ratio.

TheTechTrader.com board was mixed but mostly lower. The Nasdaq 100 large-cap stocks got crushed as Apple Inc. (AAPL) was down 22.80 to 609.84. Google Inc. (GOOG) lost 13.31 to 681.79, Amazon Inc. (AMZN) dropped 4.85 to 240.00, International Business Machines Corp. (IBM) gave back 1.60 to 193.36, but the biggest loss for the day by far on earnings was Chipotle Mexican Grill, Inc. (CMG), which plunged 42.93 to 243.00.

Pharmacyclics Inc. (PCYC) lost 6.13 to 62.24, SodaStream International Ltd. (SODA) 2.01 to 37.04, Netflix, Inc. (NFLX) 2.38 to 64.98, Goldman Sachs (GS) 1.53 to 123.62, First Solar, Inc. (FSLR) 1.60 to 23.54, Cornerstone OnDemand, Inc. (CSOD) 1.00 to 28.99, Cliffs Natural Resources Inc. (CLF) 1.34 to 44.45, and Peabody Energy Corp. (BTU) 1.55 to 25.89.

Biotech stocks had a bad day as well. Sarepta Therapeutics, Inc. (SRPT) was down 2.12 to 24.41, Onyx Pharmaceuticals, Inc. (ONXX) lost 2.81 to 85.19, and Affymax, Inc. (AFFY) gave back 2.87 to 24.47.

There were some gainers on our board today. Puma Biotechnology, Inc. (PBYI) was up 5.88 to 22.38, or 36%, on 2.6 million shares. magicJack VocalTec Ltd. (CALL) gained 2.57 to 23.03, Riverbed Technology, Inc. (RVBD) 2.37 to 23.06, and Capital One Financial Corp. (COF) 3.45 to 60.74.

ManpowerGroup (MAN) was up 3.55 to 39.53, and Robert Half (RHI) up 1.31 to 27.24, both in the staffing sector.

Ultra-long iPath S&P 500 VIX ST Futures ETN (VXX) jumped 2.12 to 34.99, or 6 1/2%, but the ProShares Ultra VIX Short-Term Futures ETF (UVXY) was up 3.33 to 28.96, or 12.6%.

Stepping back and reviewing the hourly chart patterns, the indices opened lower, came down hard and sharply until midday when they tried to stabilize but failed to do so, and broke their bear flags and went lower in the afternoon. They finally stabilized in the last half hour and snapped back, but to no avail as the rally failed several times to get through key resistance. In the last 15 minutes, they sold off into the close. The NDX sold off from 2785 to 2678, more than 100 points in just the last few sessions. They were oversold short-term, but they broke key support. The S&P 500 came down hard from 1463 to 1430, and broke some initial support today, but key support around 1427-30 zone is still holding on for dear life. If that breaks, the whole market could fall apart.

We’ll have to wait and see what happens on Monday.

Good Trading!

Harry

The stock market indices had a nasty session today, particularly the Nasdaq 100, after Google Inc. (GOOG) earnings were released early accidentally by publisher R.R. Donnelley midday. Google had a low estimate, got crushed for 75 points, and then trading was halted, which effected Apple Inc. (AAPL), Amazon.com Inc. (AMZN), Priceline.com Inc. (PCLN), and many other Nasdaq 100 market leaders. Although they did get a snapback in the last hour, the NDX closed down on the session.

Net on the day, the Dow was down 8.06 at 13,548.94. The S&P 500 was down 3.57 at 1447.34, about 5 points off the low and 7 points off the high, so midrange. The Nasdaq 100 closed down 31.45 at 2744.17, about 10 points off the low.

Advance-declines was slightly negative by about 75 issues on the New York Stock Exchange, and almost 2 to 1 negative on Nasdaq. Up/down volume was a little less than 4 to 3 positive on New York, with total volume of about 700 million shares. Nasdaq traded 2 billion, and had a 2 to 1 negative volume ratio.

TheTechTrader.com board was mixed, but there were several losers today. Google Inc. (GOOG) was down 60.49 to 695.00, Apple Inc. (AAPL) gave back 11.97 to 632.64, Amazon.com Inc. (AMZN) lost 2.64 to 244.85, and International Business Machines Corp. (IBM) dropped 5.67 to 194.96.

Point-plus losers included Onyx Pharmaceuticals, Inc. (ONXX), down 3.38 to 88.00, Netflix, Inc. (NFLX) lost 1.16 to 67.36, Cornerstone OnDemand, Inc. (CSOD) 1.25 to 29.99, Ellie Mae, Inc. (ELLI) 1.39 to 26.00, Pharmacyclics Inc. (PCYC) 1.41 to 68.37, Sarepta Therapeutics, Inc. (SRPT) 1.36 to 26.56, SolarWinds, Inc. (SWI) 1.33 to 50.46, and VIVUS Inc. (VVUS) 1.24 to 21.06.

There were also many winners on our board today. Leading the way, Broadwind Energy, Inc. (BWEN) was up 58 cents to 2.75, or 27%, on 1.8 million shares. NovaCopper Inc. (NCQ) was up 43 cents to 2.45, or 21%. Orient-Express Hotels Ltd. (OEH), on takeover rumors, jumped 2.03 to 11.05, or 23%, on 13 million shares. Ethan Allen Interiors Inc. (ETH) gained 2.04 to 28.06, or 19%, on 3.4 million shares on earnings. Given Imaging Ltd. (GIVN) advanced 2.92 to 18.10, or 19%, on 1.1 million shares. WESCO International Inc. (WCC) moved 7.94 to 65.11, or 14%, on 4.6 million shares.

Aegerion Pharmaceuticals, Inc. (AEGR) snapped back 1.79 to 20.94, USG Corporation (USG) jumped 1.94 to 24.67, La-Z-Boy Incorporated (LZB) up 1.27 to 16.92, Lam Research Corporation (LRCX) 2.43 to 36.01, eBay Inc. (EBAY) 2.63 to 50.83, Cobalt International Energy, Inc. (CIE) 1.03 to 21.99, Green Mountain Coffee Roasters Inc. (GMCR) 1.17 to 24.83, Snap-on Inc. (SNA) 2.72 to 76.97, and Dean Foods Company (DF) 98 cents to 17.94

Stepping back and reviewing the hourly chart patterns, the indices moved lower at the opening, bounced, and then made lower lows, only to snap back to the session highs and new rally highs on the S&P 500 at 1464. The NDX, at that point, was far from its high and that caused a rollover, acerbated by Google. Net, net it was a negative day for the indices.

We’ll see what that means, but they certainly backed off key overhead resistance at 2780 late yesterday, and again today when they got back up to 2775. It’s not the prettiest sight for the NDX, and there’s some weight here.

Let’s see how tomorrow goes.

Good Trading!

Harry

The stock market indices had a mixed close, but a volatile session. The Nasdaq 100 moved down fairly sharply at the opening, while the S&P 500 actually firmed up. They then both turned around and ran sharply to reach the session highs on the NDX early in the morning, and then pulled back. Falling wedges have appeared for both of them to try another high. They did, and the S&P 500 broke out to new highs at 1452, but the NDX couldn’t confirm. They both rolled over hard early afternoon. When secondary support held, they rallied back sharply only to fall back again in the last 20-30 minutes.

Net on the day, the Dow was up 5.07 at 13,556.85, 5 points off the high and 90 points off the low. The S&P 500 was up 5.99 at 1460.91, slightly off the high and 7 points off the low. The Nasdaq 100 was down 2.76 to at 2775.62, 9 points off the high and 15 points off the low.

Advance-declines were 20 1/2 to 9 positive on New York Stock Exchange, and almost 3 to 2 positive on Nasdaq. Up/down volume was nearly 3 to 1 positive on New York, with total volume of 670 million shares. Nasdaq traded nearly 1.7 billion, and had flat volume ratio.

TheTechTrader.com board had some very interesting and diverse action. Google Inc. (GOOG) was up 10.70 to 755.49, but Apple Inc. (AAPL) was down 5.18 to 644.61. Amazon Inc. (AMZN) was up 3.55 to 247.49, but International Business Machines Corp. (IBM) was down 10.37 to 200.63.

Netflix, Inc. (NFLX) was up 2.47 to 68.52, and Pharmacyclics Inc. (PCYC), reaching 70 today, closed up 3.16 to 69.79. First Solar, Inc. (FSLR) jumped 1.08 to 25.17, Goldman Sachs (GS) rose 1.70 to 124.92, and Cliffs Natural Resources Inc. (CLF), a recent swing trade pick, gained 1.55 to 45.62. Peabody Energy Corp. (BTU), another swing trade, surged 1.55 to 26.85.

There were quite a few other stocks on the upside on our board today. Sify Technologies Limited (SIFY), on earnings, was up 42 cents to 2.71, or 18%, on 3.6 million shares. InterMune Inc. (ITMN), a biotech company, was up 1.30 to 9.27, or 16%, on 4.3 million shares.

Our day-trade picks did well today. Badger Meter Inc. (BMI) jumped 5.73 to 43.62, or 15%. United Rentals, Inc. (URI) advanced 5.26 to 39.22, or 15 1/2%, on 12 million shares. Centene Corp. (CNC) gained 3.83 to 38.81, or 11%, on 3.2 million shares. Cree, Inc. (CREE) popped 2.73 to 28.92, or 10%, on 7.9 million shares.

Homebuilders were strong across the board today. KB Home (KBH) was up 1.34 to 16.76, Beazer Homes USA Inc. (BZH) closed up 93 cents to 18.10, M/I Homes, Inc. (MHO) gained 1.20 to 23.34, and PulteGroup, Inc. (PHM) was up 88 cents to 17.44.

Other gainers of note included Arena Pharmaceuticals, Inc. (ARNA), up 64 cents to 10.00, and Alpha Natural Resources, Inc. (ANR), up 71 cents to 9.26. Workday, Inc. Common Stock (WDAY) added 3.25 to 55.41.

Stepping back and reviewing the hourly chart patterns, the indices were down early, came back sharply, pulled back to retest and rallied to the session highs just before the lunch hour. They rolled over in the afternoon, snapped back sharply, only to pull back again into the close, and closed positive on the Dow and S&P 500, but negative on the Nasdaq 100.

It was a mixed day with positive technicals.

Let’s see how tomorrow goes, but we are at key resistance here on both indices.

Good Trading!

Harry

The stock market indices had a very nice follow-up session to yesterday’s rally. They exploded early on, and ran until midday when they pulled back and consolidated. The S&P 500 formed a falling wedge, and the NDX a more regular wedge. They then ran up into the close, and snapped back to retest the session highs to make a nominal new high on the Nasdaq 100 of over 2781 just before the close. The S&P 500 did not make a new high, but reached right up to its old high, before backing off. However, they closed near the session highs for the day.

Net on the day, the Dow was up 127.55 at 13,551.78, the S&P 500 up 14.79 at 1454.92, and the Nasdaq 100 up 38.51 at 2778.38.

Advance-declines were more than 3 to 1 positive on New York Stock Exchange, and 2 to 1 positive on Nasdaq. Up/down volume was nearly 4 to 1 positive on New York, with total volume of a light 613 million shares. Nasdaq traded over 1.7 billion, and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mostly higher. Apple Inc. (AAPL) reversed from 631 to 650 and closed at 649.79, up 15.03, which certainly helped the NDX. Google Inc. (GOOG) was up 3.72 to 744.70, and International Business Machines Corp. (IBM) up 2.07 to 211.00.

Onyx Pharmaceuticals, Inc. (ONXX) jumped to a new all-time high at 91.54, and closed up 2.62 to 91.46. Netflix, Inc. (NFLX) was up 1.29 to 66.05. Cliffs Natural Resources Inc. (CLF) popped 2.93 to 44.07, an outstanding move today.

Other gainers of note on our board today included low-priced Identive Group, Inc. (INVE), up 24 cents to 1.29, or 23%, on 5.9 million shares, a 3000% increase in volume. OM Group Inc. (OMG) snapped back 2.26 to 19.97, or 13%, on 1 million shares. Otelco Inc. (OTT) jumped 30 cents to 2.65, or 13%, on nearly a half million shares. Ampio Pharmaceuticals, Inc. (AMPE) spiked 42 cents to 4.07, or 11 1/2%.

In addition, Aegerion Pharmaceuticals, Inc. (AEGR) popped another 1.69 to 19.15. First Solar, Inc. (FSLR) had an excellent day, up 1.85 to 24.10, on 8 million shares. Murphy Oil Corporation (MUR) was up 4.74 to 63.74, Texas Industries Inc. (TXI) 3.28 to 44.47, Domino's Pizza, Inc. (DPZ) 2.92 to 41.16, and Questcor Pharmaceutical (QCOR) 1.70 to 24.88.

Aruba Networks, Inc. (ARUN) gained 1.42 to 21.14, IPG Photonics Corporation (IPGP) 3.90 to 59.35, Movado Group, Inc. (MOV) 2.01 to 34.36, Calumet Specialty Products (CLMT) 1.72 to 30.79, 3D Systems Corp. (DDD) 2.13 to 39.92.

On the downside, the only point-plus losers on our board were Goldman Sachs (GS), down 1.28 to 123.22, and the ProShares Ultra VIX Short-Term Futures ETF (UVXY), down 1.30 to 26.49.

Stepping back and reviewing the hourly chart patterns, the indices gapped up, ran very hard all morning, stalled midday at 2780 NDX and 1456 S&P 500. They consolidated and formed wedges before snapping back late in the day to close near the session high.

It was an excellent day, but the NDX closed right at key overhead resistance from the prior broken support line at 2780. It’s going to be important that it breaks through here, or we may see a rollover and an extension of the decline.

Let’s see what happens tomorrow.

Good Trading!

Harry

The stock market indices started off the week with a bang, and although they gapped up and then pulled back, support did hold. That prompted a midmorning rally that got up to resistance, but twice midday they failed there, and pulled back, though in an orderly 3-wave, corrective fashion, and held the late morning pull-back lows. When that occurred, they took off again in the afternoon, broke out above key 3-day resistance at 2735 NDX, and ran up to 2743 area. The S&P 500 jumped late in the day from 1434 to 1441, and then backed off finally at the close.

Net on the day, the Dow was up 95.38 at 13,424.23, the S&P 500 was up 11.54 at 1440.13, and the Nasdaq 100 close up 19.73 at 1739.87.

Advance-declines were 2 to 1 positive on New York Stock Exchange, and almost 3 to 1 positive on Nasdaq. Up/down volume was nearly 3 to 1 positive on New York, with total volume of just under 600 million shares. Nasdaq traded over 1.5 billion, and had a 3 to 1 positive volume ratio.

TheTechTrader.com board was mostly higher. Apple Inc. (AAPL) led the way, up 5.05 to 634.76. Goldman Sachs (GS) led the financial group, up 4.30 to 124.50. Amazon Inc. (AMZN) gained 1.82 to 244.18, and International Business Machines Corp. (IBM) jumped 1.13 to 208.93.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.18 to 111.68, and the Direxion Daily Small Cap Bull 3X Shares (TNA) snapped back 1.24to 59.70. The ProShares UltraShort Silver (ZSL) rose 2.09 to 44.49.

There were some stocks that had a very strong morning, but gave same back in the afternoon. They included Cyclacel Pharmaceuticals, Inc. (CYCC), which we traded today and which went from 5.25 to 7.93. The stock closed up 1.23 to 6.70, or 22 1/2%, on 2.3 million shares. Aegerion Pharmaceuticals, Inc. (AEGR) was up 1.50 to 17.46, getting as high as 18.21 at one point in the day.

Other gainers of note included Clearwire Corporation (CLWR), up 37 cents to 3.69, or 16%, on 166 million shares. Dyax Corp. (DYAX) gained 44 cents to 2.82, or 18 1/2%, and James River Coal Co. (JRCC) advanced 90 cents to 4.78, or 23%, on 6.1 million shares.

REEDS, Inc. (REED) spiked 56 cents to 7.89. Alpha Natural Resources, Inc. (ANR) advanced 60 cents to 8.48. Workday, Inc. Common Stock (WDAY), a new issue, was up 3.25 to 51.94, DigitalGlobe, Inc. (DGI) 1.29 to 22.50, Citigroup, Inc. 1.91 to 36.66, and Zillow, Inc. (Z) 1.85 to 38.39.

Stepping back and reviewing the hourly chart patterns, the indices were up early, pulled back sharply to test support, but held, and then ran up to resistance and also held. Backing off by midafternoon, they held support, came on and broke out, and closed near the highs for the day going away.

That was an excellent start to the week. Let’s see how tomorrow goes.

Good Trading!

Harry

The stock market indices had a mixed session at the close. Although the technicals were pretty good today, it did not look good for the indices.

The day started out with a big gap up, and when the S&P 500 made a new high near 1444, the Nasdaq 100 could not get through its earlier high. They rolled over sharply by midday, cracking yesterday’s lows on the NDX. That did not occur on the S&P 500. In the afternoon, as a result of that, they snapped back with a strong 20-minute rally in the last hour, only to rollover in the last 30 minutes, or so, and closed near the session lows going away.

They had a very negative day today.

Net on the day, the Dow was down 18.58 at 13,326.39, about 100 points off its high. The S&P 500 was up .30 at 1432.86, 11 points off its high. The Nasdaq 100 was down 9.33 at 2719.21, 31 points off its high.

Advance-declines were 2 to 1 positive on New York Stock Exchange, and 3 to 2 on Nasdaq 100. Up/down volume was a little less than 2 1/2 to 1 positive on New York, with total volume of 615 million shares. Nasdaq traded over 1.6 billion, and had a little less than a 3 to 2 positive volume ratio.

The technicals were definitely better than the price action, and that could possibly be a positive divergence.

TheTechTrader.com board had a very interesting day. Apple Inc. (AAPL) led the way down, losing 12.81 to 628.10, and closed at the low for the day going away. However, Google Inc. (GOOG) was up 6.92 to 751.48, Amazon.com Inc. (AMZN) was nearly unchanged, up 77 cents to 244.22, and Goldman Sachs (GS) was up 1.91 to 121.99.

Patrick Industries Inc. (PATK), a swing trade of ours, was up 1.43 to 17.13, and Onyx Pharmaceuticals, Inc. (ONXX) gained 2.27 to 88.77.

Leading the way in percent gainers was Clearwire Corporation (CLWR), up 92 cents to 2.22, or 70.77%, on 169 million shares.

Coal stocks were in a very strong group today. Alpha Natural Resources, Inc. (ANR) was up 1.24 to 8.55, or 17%, on 55 million shares. Arch Coal Inc. (ACI) gained 1.08 to 7.94, or 16%, on 32 million shares. Peabody Energy Corp. (BTU) was up 2.15 to 26.18, or 9%, on 16.5 million shares. CONSOL Energy Inc. (CNX) jumped 2.63 to 35.48, or 8%, on 6.9 million shares.

Other gainers of note included low-priced USA Technologies Inc. (USAT), up 27 cents to 1.51, or 22%, on 1.5 million shares. Amicus Therapeutics, Inc. (FOLD) gained 83 cents to 6.45, or 15%, on 2.3 million shares. Sprint Nextel Corp. (S), on takeover talk, advanced 72 cents to 5.76, or 14%, on 516 million shares.

Fastenal Company (FAST) was up 3.57 to 45.89, J. C. Penney Company, Inc. (JCP) up 2.03 to 26.18, Barnes & Noble, Inc. (BKS) up 1.07 to 16.01, E2open, Inc. (EOPN) 1.04 to 16.53, Cooper Tire & Rubber Co. (CTB), on takeover rumors, 1.09 to 19.78, and Alnylam Pharmaceuticals, Inc. (ALNY) 1.03 to 18.73.

ProShares Ultra Long DJ-UBS Natural Gas (BOIL) jumped another 3.84 to 59.40.

Stepping back and reviewing the hourly chart patterns, the indices gapped up, came down in a 5-wave decline, but rallied in the last hour only to rollover into the close and close very near the session lows, particularly on the Nasdaq 100 and the S&P 500.

It was not good action, and with Apple down as sharply as it is, we’re now at the lowest level in about 2 months on the NDX. These are dire consequences since we are just above key support on the S&P 500 at around 1430, and if that cracks, we could see a precipitous decline here.

Let’s see how it goes tomorrow.

Good Trading!

Harry

The stock market indices suffered more losses today as they continued the recent slide, taking out support on the Nasdaq 100, but still holding support on the S&P 500 around the 1430 area, at least for now.

The day started out with a move lower, followed by an attempt to rally. They formed rising wedges on the Nasdaq 100 and the S&P 500, failed at resistance, and then rolled over. They stabilized midday, bounced around, tried to rally, but couldn’t get through resistance, backed off near the close to retest the lows, and bounced right into the close with about 5 minutes to stave off some of the losses.

Net on the day, the Dow was down 128.56 at 13,344.97. The S&P 500 was down 8.92 at 1432.56. The Nasdaq 100 was down 13.38 at 2728.54.

Advance-declines were worse than 3 to 2 negative on New York Stock Exchange, and 13 to 11 negative on Nasdaq. Up/down volume was a little less than 2 1/2 to 1 negative on New York, with total volume of 566 million shares. Nasdaq traded over 1 3/4 billion, and had an 11 1/2 to 6 negative volume ratio.

TheTechTrader.com board was mostly lower. There were some outstanding gainers on our board today. Apple Inc. (AAPL) was up 5.06 to 640.91, about 4 points off the low. Affymax, Inc. (AFFY) was the big gainer today, up 2.36 to 26.12. Ellie Mae, Inc. (ELLI) was up 1.38 to 27.11, and True Religion Apparel Inc. (TRLG), one of our Boxer Shorts, gained 4.70 to 25.71.

AuRico Gold Inc. (AUQ) was up 1.32 to 7.74, or 21%, on 19 million shares on positive drilling results.

Other gainers of note included Barnes & Noble, Inc. (BKS) up 1.13 to 14.94, FedEx Corporation (FDX) 4.41 to 89.99, Endocyte, Inc. (ECYT) 51 cents to 10.06, VIVUS Inc. (VVUS) 83 cents to 21.74, Arena Pharmaceuticals, Inc. (ARNA) 31 cents to 9.30, Spectrum Brands Holdings, Inc. (SPB) 1.05 to 47.09, and Vringo, Inc. (VRNG) 22 cents to 4.67.

On the downside, Amazon Inc. (AMZN) lost 5.97 to 244.99, and International Business Machines Corp. (IBM) dropped 2.17 to 205.82.

OCZ Technology Group, Inc. (OCZ) got clobbered for 1.27 to 1.88, or 40%, on 23 million shares. Their estimates were low, and earnings came in much lower than their estimates. Sarepta Therapeutics, Inc. (SRPT) was down 1.62 to 31.71, and SolarWinds, Inc. (SWI) lost 1.14 to 53.57.

Other than that, both ultra-longs and ultra-shorts were very narrowly changed today.

Stepping back and reviewing the hourly chart patterns, the indices opened lower, snapped back to the highs for the day early on, and then rolled down into midday lows, retesting them at the end of the day, but not making any significantly lower lows, at least at this point.

Let’s see how it goes tomorrow.

Good Trading!

Harry