The stock market indices rocketed higher today after an early morning dip in a strong 3-wave rally. The indices had a superior turnaround session as earlier losses were wiped with a strong morning rally. They did get a midday pullback to test intraday support and then turned it around for the sharpest rally of the day in the last hour and a half. In the last 10–15 minutes they spiked up into the close and finished right near the session highs going away.
Net on the day, the Dow closed just under 10,250, up 225.52 at 10,249.54. The S&P 500 was up 27.67 at 1098.38, just pennies off its high, and the Nasdaq 100 had a very sharp gain of 44.55 at 1879.59, right at the high for the day going away.
Advance-declines were very positive today by about 5 1/2 to 1 positive on the New York Stock Exchange, and 4 to 1 positive on Nasdaq. Up/down volume was more than 20 to 1 positive with more than 1 1/4 billion to the upside and only 63 million to the downside. Nasdaq had 1.955 billion up, 214 million down with about a 9 to 1 positive ratio on total volume of just under 2.2 billion shares today.
TheTechTrader.com board was nearly all green, with just a couple of small fractional losers today other than the ultra-shorts, of course. Leading the way, Google Inc. (GOOG) was up 11.00 at 493.37, Cree Inc. (CREE) 2.00 at 67.37, Baidu, Inc. (BIDU) 2.42 at 75.98, Apple Inc. (AAPL) 3.12 at 263.95, and Amazon.com Inc. (AMZN) 3.07 at 126.31.
In the generally strong junior oil group, Brigham Exploration Co. (BEXP) jumped 1.49 to 17.89, and Northern Oil and Gas, Inc. (NOG) was up 1.07 at 14.42.
Among other gainers of note, Acme Packet, Inc. (APKT) was up 98 cents at 28.58, China Automotive Systems Inc. (CAAS) 89 cents to 18.49, Dendreon Corp. (DNDN) 75 cents at 43.16, Las Vegas Sands Corp. (LVS) 1.23 to 24.25, NetApp, Inc.