The markets acted very resiliently today. Even though they had a very sharp down move at the opening and actually broke key three-day support, there was no follow-through. The markets stabilized mid-morning, rallied, pulled back late morning and then rallied again and sharply so, breaking out before the lunch hour. They backed and filled mid-day, pulled back and retested successfully, and then they shot up and tested last Friday's multi-week rally highs.

In the last 15-20 minutes they pulled back off those highs, so we ended up having double-tops about three days apart at key levels around the 1997 area on the Nasdaq 100 and about the 1422-23 zone on the S&P 500.

But it was a positive day as the 5-wave rally off the lows brought the indices back into the positive column and the Dow back over 13,000 at 13,021, up more than 51. The S&P 500 closed at 1418.20, up 10.77, and the Nasdaq 100 over 1990, up nearly 15. The Philadelphia Semiconductor Index (SOXX) was up 6 today, or about 1 1/2 percent.

Technicals were positive by more than 3 to 2 on advance-declines on New York and a little less than that on Nasdaq. Up/down volume was better than 2 to 1 positive on New York on total volume of a little over 1 1/4 billion. Nasdaq traded nearly 2.2 billion, with a little less than 3 1/2 to 1 on advancing over declining volume.

However, TheTechTrader.com board had one of its better days of the year, with most of our stocks up and many of them up multi-points today.

Leading the way was junior energy portfolio holding Canadian Solar (CSIQ), which we exited in the afternoon today for a nice gain. It closed at 31.36, up 4.82 on nearly 4 million shares, right near its Dec-Jan highs.

Other stocks in that group, portfolio holding Solarfun (SOLF) was up 1.41 to 14.69, and JA Solar (JASO) gained 1.99 to 23.48. Trina Solar (TSL) was up 2.86 and Ascent Solar (ASTI) up 73 cents. Clearwire (CLWR) ended up 1.29 at 16.46, and was trading more than 2 higher in the after market after announcing a major deal.

In the shipping sector, DryShips (DRYS) gained 1.79, Excel Maritime (EXM) up 1.19, and TBS International (TBSI) 77 cents.

Other point-plus gainers included DIVX up 1.11 to 8.85. China Finance Online (JRJC) had a strong move today, getting over 24, closing at 23.84, up 2.01 on nearly 2 million shares.

Sigma Designs (SIGM) coming back strong off its spike low near 15 three weeks ago, was up 2.22 to 22.47 on more than 3 million today.

On the downside, AgFeed Industries (FEED), which had a tremendous run of late, gave back 1.87, closing at 19.07. That was the lone point-plus loser on our board.

Stepping back and reviewing the hourly chart patterns, a five-wave advance off the early lows today brought the indices back to retest last Friday's highs, but they stalled late in the session near there. It's going to be interesting to see whether they can extend this. But right now the pullbacks are holding moving average and trendline support, and despite some negative divergences and less than spectacular volume, the indices continue to advance.

We'll see how long they can keep this up.

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.