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Stock Market Good Day to Start the Week

Stock-Markets / Stock Market 2017 May 23, 2017 - 12:21 PM GMT

By: Harry_Boxer


The stock market indices had a exceptional up-day today. The day started out with a gap to the upside, then a sharp run-up, they consolidated in the morning, continued midday, pulled back early afternoon, and ran again for a fifth wave in the afternoon, finishing near the session highs for the day.

Net on the day, the Dow was up 89.99 at 20,894.83. The S&P 500 was up 12.29 at 2394.02. The Nasdaq 100 was up 47.84 at 5699.40.

Advance-declines were 2 1/2 to 1 positive on the New York Stock Exchange, and about 2 to 1 positive on the Nasdaq. Up/down volume was 19 to 12 positive on New York, total volume of 3.1 billion shares traded. The Nasdaq traded 1.7 billion shares and had a 2 1/2 to 1 positive volume ratio. board was quite positive. (PCLN) led the way up 20.14 to 1828.42, Alphabet Inc. (GOOG) up 7.85 to 941.86, Apple Inc. (AAPL) up 93 cents to 153.99,, Inc. (AMZN) 10.83 to 970.67, and Netflix, Inc. (NFLX) 14 cents to 157.16.

Baidu, Inc. (BIDU) jumped 2.93 to 191.69, Facebook, Inc. (FB) gained 18 cents to 148.24, and First Solar, Inc. (FSLR) closed nearly flat, up 9 cents to 36.43.

Tesla Motors, Inc. (TSLA) dropped 48 cents to 310.35.

Other stocks to the upside included NVIDIA Corporation (NVDA) up 2.90 to 138.90, and Mimecast Limited (MIME) up 1.10 to 27.00. Exact Sciences Corporation (EXAS) snapped back 1.32 to 31.80, and Check Point Software Technologies Ltd. (CHKP) advanced 1.14 to 109.67.

Biotech’s were firm, especially late. The Direxion Daily S&P Biotech Bull 3X ETF (LABU) was up 1.06 to 47.38, reaching as high as 48.08.

On the downside, bluebird bio, Inc. (BLUE) dropped 3.50 to 78.95 and Teladoc, Inc. (TDOC) lost 1.15 to 28.50.

Checking percent-gain leaderboard, Oclaro, Inc. (OCLR) popped 87 cents, or 120%, to 9.37, on 16.5 million shares traded.

Puma Biotechnology, Inc. (PBYI) had a huge day today, running up to 69.35 before pulling back and closing up 14.80, or 39%, to 52.60, on over 12 million shares traded. Majesco Entertainment Company (COOL) climbed 3.34, or 25%, to 16.78. Core-Mark Holding Company, Inc. (CORE) popped 1.03, or 3%, to 34.78. Applied Optoelectronics, Inc. (AAOI) jumped 7.70, or 12%, to 71.24, on 6.7 million shares traded. Everspin Technologies, Inc. (MRAM) bounced 1.33, or 13 1/2%, to 11.23.

Acacia Communications, Inc. (ACIA) thrust 4.67, or 11%, to 48.85, on 2 million shares traded. Finisar Corp. (FNSR) gained 2.41, or 10%, to 25.99, on nearly 5 million shares traded.

Among other gainers, Lumentum Holdings Inc. (LITE) was up 4.00 to 57.35, MACOM Technology Solutions Holdings, Inc. (MTSI) up 4.66 to 60.84, and Impinj, Inc. (PI) up 3.42 to 44.38.

Stepping back and reviewing the hourly chart patterns, the indices moved 5 waves sharply higher at the opening, consolidated in the morning, went to midday highs, hit a noon-hour low consolidation, and then rallied again, closing in the positive column.

Let’s see what happens.

Good Trading!


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