The stock market indices rallied back from early losses and closed not far off the session highs, and not far off the 2 1/2 year highs on the S&P 500. The day started out with backing and filling action in the first 15-20 minutes, and then a plunge taking the Nasdaq 100 from 2320 down to 2298. The SPX dropped from 1304 to 1295.
At that point they began a 3-wave rally back, a sharp one that recaptured the early levels on the indices. They then went sideways and consolidated for a few hours. When two tests of support held, the indices rallied in the afternoon and took out the early highs, and then went to new session highs only to rollover in the last 15 minutes. Still, they ended the day with gains.
Net on the day, the Dow was up 20.29 at 12,062.26, the S&P 500 up 3.07 at 1307.10, and the Nasdaq 100 up 1.98 at 2323.07.
Advance-declines were about 16 to 13 positive on the New York Stock Exchange, and nearly flat on Nasdaq with just 10 more issues gaining today. Up/down volume was about 3 to 2 positive on New York on total volume of about 975 million. Nasdaq traded about 1.9 billion shares and had an 11 to 8 positive volume ratio.
TheTechTrader.com board was active. Many issues were higher, but the ones that were lower were mostly fractionally lower other than a couple issues which got hit hard today. Leading the way was Chipotle Mexican Grill, Inc. (CMG) up 10.32 to 239.22, Shutterfly, Inc. (SFLY) up 6.26 to 40.57, Open Text Corp. (OTEX) 5.45 to 56.25, Brinks Co. (BCO) 2.50 to 30.17, Brightpoint Inc. (CELL) 2.78 to 12.30, and Abiomed Inc. (ABMD) 2.18 to 12.30.
In addition, Hansen Medical, Inc. (HNSN) gained 40% to 2.21, up 63 cents. Derma Sciences Inc. (DSCI) jumped 2.32 to 8.99, Silicon Graphics International Corp. (SGI) 2.82 to 13.72, Green Mountain Coffee Roasters Inc. (GMCR) 4.82 to 37.78, Evergreen Energy, Inc. (EEE) 37 cents to 3.64, and SFN Group, Inc.