The markets had a strange and mixed session, the kind of session where the Nasdaq 100 was pretty much positive and strong all session and closed at the highs for the day going away, but the S&P 500 and Dow were negative all morning and flat all afternoon, and refused to go along with the Nasdaq 100, particularly the afternoon part of the rally.

The day started out with a move higher on the NDX but lower on the S&P 500 and then they kept diverging all session after that.

Net on the day the Dow was down 22 1/4, and the S&P 500 was down 5. The Nasdaq 100 closed at the exact high for the day, up 13.59. Philadelphia Semiconductor Index (SOXX) was up 2.30 and that helped Nasdaq.

The technicals were very poor on the NYSE, with advance-declines 2 to 1 negative and up/down volume 2 1/2 to 1 negative. Despite the advance of the Nasdaq 100, Nasdaq had 430 more losers than advancers, although up/down volume was about 4 to 3 positive on total volume of about 1.4 billion.

NYSE volume was very light today, less than 850 million, the lowest volume in several months.

TheTechTrader.com board had major winners and losers. Chinese stocks got hit today. On the downside, China Natural Resources (CHNR) was down 4.40 and ACH down 2.52. RCH fell 2.26, and those were the chief multiple-point losers on my board, with the exception of Cree Inc. (CREE), which dropped another 1.61 and remains under pressure.

On the plus side, VMware (VMW) surged across 95 to set new highs, up 3.96 on the day. Sigma Designs (SIGM) continues being squeezed higher, closing at 55.87, up 2.34. Shipping stocks had a stellar day, with DryShips (DRYS) up 6, closing at 1.05, and Excel Maritime (EXM) at 63.15, up 4.15.

Other point-plus gainers, former Chart of the Week and portfolio position Cardica (CRDC) closed at 14.32, up 1.37, and Immersion Corp. (IMMR) had a strong session, closing at 18.41, up 1.19, a new 3-month high.

Stepping back and reviewing the hourly chart patterns, as indicated earlier we had a diversion in movement today, with the Nasdaq 100 moving up and the S&P 500 and Dow moving down.

We'll see which one of those indices will prevail and influence the others over the next day or two, but even with Nasdaq up today and advance-declines lower, I'm seeing what looks like a tired market and perhaps a negatively diverging market. As a result, we decided to take several of our positions off the board at profitable trades today.

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.