The indices had a somewhat volatile day, but they did manage to surge back into the plus side at the end of the day and close up on the session.

The day started out with some up and down vacillations. They moved lower at the opening, snapped back sharply rather quickly, but then retested the lows. When that was successful they started the best rally of the day which took the NDX from 1836 to the 1867 area over a couple hours. The S&P in that same period of time when from 1360 to 1376. But they were not able to take out yesterday's highs and backed off to retest mid-day support which was successful. A late afternoon bounce brought the indices back up for another test of the highs, but they again failed, rolled over, and backed off into the close before just a late pop firmed them right at the close.

Net on the day the Dow was up just 20, the S&P 500 1 3/4, the Nasdaq 100 6.4 and the Philadelphia Semiconductor Index (SOXX), which was the leader today, up 9.27, more than 2 1/2 percent, positively diverging of late.

Advance-declines were positive by 18 to 13 on the NYSE but negative on Nasdaq by 15 to 13.

Up/down volume was about 3 to 2 positive on the NYSE and about 4 to 3 positive on Nasdaq. Total volume on New York was lighter today at about 1 1/4 billion. Nasdaq traded a little over 1.9 billion shares.

TheTechTrader.com board was mostly higher, with many point-plus gainers. Shippers were strong today with DryShips (DRYS) up 4.12, Excel Maritime (EXM) up 1.20 and TBS International (TBSI) 1.39.

Solar energy stocks, particularly the junior solars, were strong in the morning, but gave back much of after the early run. Solarfun (SOLF) gained 38 cents and Canadian Solar (CSIQ) 1.47, but it was a mixed picture, as Ascent Solar (ASTI) lost 26 cents, Emcore (EMKR) 16 cents, and JA Solar (JASO) 55 cents. Energy Conversion Devices (ENER) was pretty close to flat, up only 6 cents today.

Other point-plus gainers included Aluminum Corp. of China (ACH) was up 1.72. China Natural Resources (CHNR) gained 1.20, Clearwire (CLWR) 1.16, and recent Chart of the Week GeoResources (GEOI) to another new multi-year high , up 1.01 today to close at 16.94.

MF Global, which was sharply higher by more than $3 at one point, rolled over hard in the afternoon, on news they were seeking alternative financing.That closed +$1.45. Vertex Pharmaceuticals (VRTX) was up 59 cents, Exide Technologies (XIDE) 44 cents, MBI 53 cents, and portfolio position FEED gained 72 cents, closing at 13.20. Converted Organics (COIN) snapped back 48 cents and CIT Financial also gained 86 cents.

Stepping back and reviewing the hourly chart patterns, the indices were volatile in the morning, rallied sharply at mid-day, and then had some additional volatility late in the session. They managed to close up on the day in a consolidation-type session. We'll see if resistance up in the 1866-70 zone on the Nasdaq 100 and the 1376-78 zone on the S&P 500 can be taken out.

Support to watch is at the 1833-36 zone on the Nasdaq 100, and 1358-60 zone on the S&P 500.

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.