The indices ended the week with a strong session. They started out very strongly after Google (GOOG) crushed earnings estimates and the indices rocketed from the start with a huge up-gap. They did pull back in the first half hour, but came on strong and rallied for the rest of the morning. By mid-day they paused and in the afternoon pulled back, but in a very orderly down-channel, holding secondary support, and bouncing in the last 15 minutes.

Net on the day the Dow was up 229, the S&P 500 up nearly 25, and the Nasdaq 100 just under 60, a huge day for the indices. The Philadelphia Semiconductor Index (SOXX) up 9, or about 2 1/2 percent.

The technicals were solid on advance-declines by 24 to 7 on New York and 21 1/2 to 8 on Nasdaq. Up/down volume was even better, positive by 4 to on New York and by about 5 to 1 on Nasdaq. Total volume was just under 1.5 billion on New York and 2.2 billion on Nasdaq.

TheTechTrader.com board was mixed but mostly higher with several point-plus gainers. Shippers led the way, with Excel Maritime (EXM) up 2.70, TBS International (TBSI) 2.37, and DryShips (DRYS) 1.83.

Solar energy stocks were mixed. JA Solar (JASO) was the star today, up 1.69, and Energy Conversion Devices (ENER) gained 1.32. Canadian Solar (CSIQ) advanced 23 cents ,but several others were just narrowly mixed.

In addition, Exide Technologies (XIDE) jumped 62 cents to a new multi-year high. Jinpan (JST) was up 89 cents, Intermune up 73 cents, and Immersion Corp. (IMMR) up 72 cents to 8.24. AgFeed Industries (FEED) snapped back 38 cents, and Eschelon Corp. (ELON) up 60 cents. Chindex (CHDX), which we added back to our portfolio today, gained 64 cents.

On the downside, Trina Solar (TSL) was the lone point-plus loser on our board, down 1.31. Converted Organics (COIN) fell 37 cents, as did Clearwire (CLWR). Akeena Solar (AKNS) was also weak in the in solar sector, down 30 cents.

Stepping back and reviewing the hourly chart patterns, the indices had a significant session in that they gapped up and smoked through key overhead resistance at the Nasdaq 100 1885 level, reaching as high as 1908 today, closing at 1900.

The S&P 500 ran up sharply, took out the early April highs and the late February high, but fell short right at the late January snapback high up near the 1396 area. Today's high was 1395.90, so we reached key resistance on the S&P and backed off, took it out slightly on the Nasdaq 100, and consolidated very nicely in the afternoon. It sure looks like higher prices may lie ahead, but they still are at dangerous levels that could thwart the rally if they do not get a follow-through.

So we'll be watching closely next week to see if the indices can follow-through and break out of the three-month bases that they're in.

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.