The stock market indices had an up day today. The day started off with a gap up and early consolidations. When they held, the rally began, and rallied into midday where they reached their session highs on the Nasdaq 100. In the afternoon, the NDX pulled down as Apple Inc. (AAPL) backed off after the iPad introduction in a 5-wave corrective move until late in the afternoon. They tested the session lows, actually. The S&P 500 held up much better, and at one point late in the day made more new highs, while the NDX did not. That caused a late pullback.
Net on the day, the Dow was up 78.18 at 12,837.33, about 20 points off its high, the S&P 500 up 9.27 to 1352.63, just 2 points off its high, and the Nasdaq 100 up 18.90 at 2607.85, about 9 points off its high.
So, it was a pretty good day on Wall Street.
Advance-declines were nearly 4 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on Nasdaq. Up/down volume was 4 to 1 positive on New York, with total volume of 742 million shares traded today. Nasdaq traded about 1.6 billion shares and had a 4 to 1 positive volume ratio.
It was a solid day technically for the indices.
TheTechTrader.com board was mostly higher. Leading the way today was The Bon-Ton Stores, Inc. (BONT), up 1.73 to 6.98, or 33%, on 2.6 million shares. We put that out as an early pick today, and it did well for our traders. Spherix Inc. (SPEX) jumped 18 cents to 1.00, or 21 3/4%, on 3.8 million shares. Global Cash Access Holdings (GCA) was up 68 cents to 6.04, or 12%, on 4.48 million shares, and Agenus Inc. (AGEN) 73 cents to 4.49, or 19.4%, on over 1 million shares.
Other gainers of note included Analogic Corporation (ALOG) up 4.84 to 59.43, ChipMOS Technologies (IMOS) 1.02 to 12.40, Sina Corp. (SINA) 4.80 to 72.60, U.S. Home Systems, Inc. (USHS) 1.02 to 11.35, and Iridium Communications Inc (IRDM) 57 cents to 8.76.