The stock market indices staged a monster rally today and closed at the session highs going away. A beautiful 5-wave rally broke through several layers of resistance and through the declining moving averages on the hourly charts as well as a move into those big gaps from last week.
It was about as good of a day as it could get. The volume could have been a bit heavier, but it was still a pretty good day today.
Net on the day, the Dow was up 322.11 at 11,176.76, the exact penny tick high for the day. The S&P 500 was up 38.53 at 1162.35, and the Nasdaq 100 up 84.54 at 2129.27, or about 4.1% today.
Advance-declines were better than 5 to 1 positive on the New York Stock Exchange, and 5 to 1 on Nasdaq as well. Up/down volume was about 8 1/2 to 1 positive on New York, with advancing volume of 1.70 billion over declining volume of 147 million. Nasdaq traded over 2.1 billion shares and had about a 6 1/2 to 1 positive volume ratio.
It was a very big day technically, and confirmed by the technicals as well.
TheTechTrader.com board, as a result, was vastly higher. Nearly every stock on our board was up, except for two, Travelzoo Inc. (TZOO) down 1.34 to 32.83, and SodaStream International Ltd. (SODA) down 89 cents to 33.58.
Leading the way today were the large-cap stocks, including Apple Inc. (AAPL) up 17.16 to 373.60, Amazon.com Inc. (AMZN) 16.01 to 193.55, and Netflix, Inc. (NFLX) 14.33 to 219.54. Google Inc. (GOOG) advanced more than 20, up 20.65 at 518.82.
In addition, other point-plus gainers included International Business Machines Corp. (IBM) up 5.34 to 164.32, Molycorp, Inc. (MCP) up 2.92 to 52.99, and InterDigital, Inc. (IDCC) 3.54 to 68.18.
Also included in the point-plus gainers were Brigham Exploration Co. (BEXP) 1.69 to 27.35, Global Crossing Ltd.