The indices were slightly higher, somewhat mixed at the close, but there was plenty action to be had today, particularly in solar energy and Chinese stocks. The day started out with a move down. They quickly held support, although the S&P 500 did make a new pullback low, the Nasdaq 100 failed to confirm that, and when that occurred they bounced back in a mini 5-wave rally in the morning, hit their morning highs around mi-morning and then backed off into lunch hour in bullish flagging fashion.

The Nasdaq 100 managed to work its way higher all afternoon and in a bullish-looking stair step advance along its intraday moving averages & trendline , but the S&P 500 could do little more than meander sideways in a coil-type pattern. However, late in the session both indices spurted higher to close at or near their session highs.

The Dow was up 19 1/2, the S&P 500 was down about a 1/2 point, and the Nasdaq 100 was also up about 19 1/2. The Philadelphia Semiconductor Index (SOXX) gained a little less than 2 points.

The technicals leaned to the negative side on the NYSE by 3 to 2 on advance-declines and 7 to 5 on up/down volume, on total volume was a little more than 1.3 billion. Nasdaq had about 350 more losing issues than gainers, but up/down volume was a little less than 2 to 1 positive.

TheTechTrader.com board had plenty of point-plus gainers. LDK up 5.02 and JA Solar (JASO) up 1.74, along with Ascent Solar (ASTI) up 1.85, led the way for the solar stocks on my board.

Other big gainers included Superconductor Technologies (SCON), which exploded on news of a deal. The stock was up 4 points on 10.3 million shares, leading all Nasdaq % gainers with a gain of 66% today.

Other point-plus gainers included Aluminum Corp. of China (ACH) up 1.44, China Technology Development (CTDC) up 1.02, DryShips (DRYS) 2.15, Excel Maritime (EXM) 3.04 and Rediff.com India (REDF) up 1.

Several portfolio positions advanced today: Cree Inc.(CREE) was up 1.70, Nuance Communications (NUAN) gained 78 cents to a new multi-week high, Harmonic Inc. (HLIT) 22 cents, along with Auxilium Pharmaceuticals (AUXL) up 29 cents.

On the downside, there were no point-plus losers on our board. Sigma Designs (SIGM) fell 60 cents, VMW also 60 cents, and Eschelon Corp.(ELON) wasdown 91 cents.

Stepping back and reviewing the hourly chart patterns, the Nasdaq 100 surged steadily higher after a week opening and ended at the highs for the day going away and at multi-year highs as well.

The S&P 500, however, trailed badly today and ended fractionally lower on the session, although it did hold mid-day support and closed at the afternoon highs and near the session highs.

The overall pattern on the S&P 500 remains constructive and consolidative, with the NDX breaking out here. However, the NDX has not gotten confirmation from the SPX or DJI , and in my mind that would be necessary for the rally to gain a stronger foothold.

We'll see if they are able to make up the distance or if eventually create a drag on the Nasdaq 100 and pull all the indices back lower. That's what we'll be watching for over the next day or two.

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com, a real-time diary of his day, swing and intermediate-term trades. For more of Harry Boxer, sign up for a free 15-day trial to his Real-Time Technical Trading Diary, or sign up for a free 30-day trial to his Top Charts of the Week service.