The markets had a pretty strange session because the blue chips indices had a difficult session and Nasdaq was down as well, but some of our favorite groups had an outstanding day, although they gave back some of their gains in the last hour.

The day started out with a move down. They quickly bounced to new highs on the Nasdaq 100 but did not confirm on the S&P 500. When that occurred they stair-stepped lower for most of the day. The did have an early afternoon rally try that failed right at resistance, and they rolled over and closed right at the lows for the day going away on the S&P 500 and near them on the Dow. Nasdaq wasn't far from the lows, but had a much softer session in terms of the losses.

Net on the day the Dow was down 108.78, the S&P 500 9.21, and the Nasdsaq 100 11.94. The Philadelphia Semiconductor Index (SOXX) was down 6.13.

The technicals confirmed the down session, with a 3 to 2 advantage of decliners over advancers on New York and about 9 to 5 negative on Nasdaq. Up/down volume was nearly 3 to 1 negative on Nasdaq on total volume of about 1 3/4 billion. NYSE traded less than 1.1 billion, the lightest day in weeks and had about a 2 to 1 negative ratio.

TheTechTrader.com board, despite being mixed had some outstanding gainers today. Chart of the Week Pyramid Oil (PDO) was up 3.87 to 25, and A-Power Energy (APWR), our other Chart of the Week, was up 2.07 to 28.45.

The shippers, in particular, were standouts, with DryShips (DRYS) up 5.55, closing about 2.25 off the high, on 8 million shares. Excel Maritime (EXM) advanced 4.34 to 43.44, and the TBS International (TBSI) was up 4.02 to 41.99.

Solars were strong in the morning, but gave back some in the afternoon. Canadian Solar (CSIQ) on raised guidance was up 4.54 to 47, with a new all-time high of 49.24 set earlier in the session. On the other hand, Solarfun (SOLF) gained just 4 cents and was about 1.50 off the high. JA Solar (JASO) was pushed back 1.50 as well and closed down on the day, down 14 cents.

Besides PDO other junior oils were strong, with Brigham Exploration (BEXP) up 1.31 to 16.81 and Northern Oil & Gas (NOG) up 77 cents. GeoResources (GEOI) in that same group was up 70 cents to 22.40.

On the downside, China Finance Online (JRJC) gave back 1.20 in the afternoon and closed down 37 cents on the day.

Other losers of note, Energy Conversion Devices (ENER) after yesterday's big gain gave back 1.60. But that was the only point-plus loser on our board. DUG dropped 98 cents and the USO down 59 cents on softer oil today.

Stepping back and reviewing the hourly chart patterns, the indices made nominal new rally early on, but the rest of the day was spent drifting back lower and testing and eventually taking out initial key support and the 3-day trendlines as well.

So we'll see if they continue lower tomorrow. But certainly today was a failure near resistance and the downtrend continues.

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.