The indices ended up narrowly mixed today.  They did show some morning strength, particularly in the Nasdaq, but were pretty flat on the S&P and the Dow as well.

On the session the Dow had a 37-point range closed up 4 on the day.  The S&P 500's range was just 3 points and they closed down less than a point.  The Nasdaq 100 was up 4.37 with a trading range of about 11 points all day.  The SOX Index was down a point and had a range of less than 4 points.

So, it was a narrow consolidation session continuing Friday's action.

Technically, the advance-declines and were lower on New York by about 250 issues and higher on Nasdaq by 450 issues.  Up/down volume was 7 to 6 negative on New York, about 2 to 1 positive on Nasdaq.  Total volume was less than 1.4 billion on New York and less than 1 3/4 billion on Nasdaq.

So, fairly heavy volume on Nasdaq today.

TheTechTrader.com was mixed, but mostly positive, led today by Internet Initiative Japan (IIJI).  It was up 1.82, exploding on heavy volume through the 10 resistance level. Rediff.com India (REDF) was up 1.33, continuing the strength in the Internet sector.

Among the junior biotechs, Momenta Pharmaceuticals (MNTA) was up 1.58, and Biovail (BVF), one of this week's Charts of the Week, up 71 cents.  In the alternative energy sector, results were mixed, but DayStar Technologies (DSTI) managed to advance 47 cents and Spire Corp (SPIR) 63 cents.

On the downside, Dynamic Materials (BOOM) dropped 80 cents, and Meadow Valley (MVCO) 64 cents.  Most other stocks were just very narrow and fractionally mixed today.

Stepping back and reviewing the hourly chart patterns, despite the new NDX rally high today, which reached as high as nearly 1617, the S&P failed to confirm and so did the Dow.

So that negative divergence caused a pullback late in the session.  Short-term support is around 1609 NDX and beneath that the 1605 area.  S&P support is at 1239 and then 1236.  We'll be keeping an eye on those levels.

On the resistance side, we'll be watching 1617 NDX and 1243 SPX.

Good trading!

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.