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Closing Technical Market Analysis for Wed April 25th 2012
The stock market indices had a very strong session today as Apple Inc. (AAPL) earnings blew through Wall Street. It created a big gap up as futures were sharply higher, more than 50 points on Nasdaq 100. The NDX and S&P 500 gapped up sharply as well, reaching 2710 on the NDX, and 1390-91 range on the S&P 500. They then backed off midday, but in an orderly fashion, and then stair-stepped their way back up toward the highs and closed near the session highs at the end of the day.
It was a good day for sure on Wall Street.
Net on the day, the Dow was up 89.16 at 13,090.72, the S&P 500 closed up 18.72 at 1390.69, and the Nasdaq 100 up 70.89 at 2709.62.
Advance-declines were 3 to 1 positive on the New York Stock Exchange, and about 3 to 1 positive on Nasdaq. Up/down volume was 4 to 1 positive on New York. Nasdaq had a 4 to 1 positive volume ratio.
TheTechTrader.com board was extremely positive, with just a few stocks down today. Leading the way, Apple Inc. (AAPL) was up 49.72 to 610.00, on 32 million shares. International Business Machines Corp. (IBM) was up 3.45 to 203.45.
Other stocks up more than a point include OmniVision Technologies Inc. (OVTI) up 1.55 to 19.22, Rackspace Hosting, Inc (RAX) up 1.84 to 55.29, SodaStream International Ltd. (SODA) 1.01 to 33.88, SolarWinds, Inc. (SWI) 1.47 to 37.82, Universal Display Corp. (PANL) 2.60 to 40.52, and Coinstar Inc. (CSTR) 1.91 to 65.36.
VIVUS Inc. (VVUS) had a big day, up 1.80 to 24.23.
Other stocks of note included leading percentage gainers. Low-priced Cleantech Solutions International, Inc. (CLNT) jumped 1.79 to 5.62, or 46%, on 3 million shares traded. NF Energy Saving Corp. (NFEC) gained 40 cents to 1.88, or 27%. Cray Inc. (CRAY) gained 1.47 to 8.51, or 20.9%, on 2 million shares. Amyris, Inc. (AMRS) advanced 54 cents to 3.35, or 19%, on 1.1 million shares. Kindred Healthcare Inc. (KND) was up 1.56 to 9.86, or 18.8%, on 4.1 million shares.
Global Geophysical Services, Inc. (GGS) up 1.40 to 9.40, or 17%, Sino-Global Shipping America, Ltd. (SINO) 56 cents to 3.20, or 21%, Repligen Corporation (RGEN) 90 cents to 7.26, or 14%, Select Medical Holdings Corporation (SEM) 97 cents to 8.82, or 12%, Calix Inc. (CALX) 90 cents to 7.85, or 13%, and Century Aluminum Co. (CENX) 96 cents to 9.07, or 12%.
In addition, Unisys Corporation (UIS) snapped back 3.30 to 19.70, or 20%, on 5.1 million shares. GNC Holdings Inc. (GNC) ran up 4.41 to 39.89, or 12%. USANA Health Sciences Inc. (USNA) gained 4.20 to 41.00 even, or 11%. ChipMOS TECHNOLOGIES (IMOS) was up 1.42 to 13.46, or 11.8%. Cirrus Logic Inc. (CRUS), on Apple news, was up 2.29 to 23.09. Dana Holding Corporation (DAN) was up 1.31 to 15.21, Vascular Solutions Inc. (VASC) up 1.24 to 11.79, Onyx Pharmaceuticals, Inc. (ONXX) 3.90 to 47.33, E-Commerce China Dangdang Inc. (DANG) 73 cents to 8.23, Mitek Systems Inc. (MITK) 47 cents to 5.88, and BroadSoft, Inc. (BSFT) 3.12 to 41.90 were among the gainers today.
The Direxion Daily Financial Bull 3X Shares (FAS) ultra-long was up 3.16 to 102.40, and the The Direxion Daily Small Cap Bull 3X Shares (TNA) gained 2.66 to 57.70.
On the downside, Netflix, Inc. (NFLX) was down 1.33 to 86.35, and Questcor Pharmaceutical (QCOR) down 1.18 to 40.48 were the only point-plus losers today. ProShares Ultra VIX Short-Term Futures ETF (UVXY) dropped 1.89 to 13.92, and was the loser in the ultra-short ETF sector.
Stepping back and reviewing the hourly chart patterns, the indices had big gaps up, and ran the NDX and S&P 500 up to resistance, stalled there for most of the day. It tried to break out, but didn’t, but closed at the highs for the day going away.
Tomorrow will be a very important day in this trend. So, we’ll see how it goes.
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