In a nutshell, we had a choppy session that ended narrowly mixed. The day started out with a quick move down. They held trendline support and bounced sharply, ran right back up to the highs on the Nasdaq 100 and actually took them out on the S&P 500 to new session highs, and then stair-stepped down in a 3-wave pullback that retested the trendlines again, held again, and then rallied in the last couple hours back up. They got just beneath the highs, couldn't punch through, and then backed off. In the last few minutes they came on again to close mixed on the session.

Net on the day the Dow was down just 11.72, the S&P 500 up 2.67, and the Nasdaq 100 down 6 1/2. The Philadelphia Semiconductor Index (SOXX) was down 1 3/4.

The technicals were also mixed. Advance-declines were ahead by a little less than 400 issues on New York and behind by about 70 issues on Nasdaq. Up/down volume was 7 to 5 positive on New York on total volume of 1.3 billion. Nasdaq traded 1.95 billion and had a negative ratio of 10 to 9 on declining declining over advancing volume.

TheTechTrader.com board was extremely mixed as well. Energy Conversion Devices (ENER) extended its strong rally of the last couple days, reached as high as 64.46 from a recent low under 53, but closed at 63.09, still up 3.79 today on 3 1/4 million. Recent Chart of the Week Trex Co. (TWP) at 21.08 was up 1.11, and Canadian Solar (CSIQ) at 24.95 was up 1.33. Brigham Exploration (BEXP) at 13.34 was up 1.25.

Losers included AIG, which got slam-dunked down to 11 1/2, before bouncing near the close, but still down 5.41 today on 315 million shares traded. Other losses of note: LEH got hammered to 3.17 before a very late rally snapped them back to 3.65, but was still down 57 cents on 300 million shares, and rumors abound about a takeover that may be announced this weekend.

WM also got hammered down to 2.43 earlier in the day, rallied to 3.29, and backed off to 2.73, a very volatile session there, on 300 million shares traded. Other gainers of note, Converted Organics (COIN) continued its very strong rally since we highlighted it , reaching as high as 9 today, closing at 8.69, up 57 cents. Yesterday's Chart of the Day Continental Airlines (CAL) closed near the high for the day at 18.95, up 44 cents on 13.7 million. A-Power Energy (APWR) snapped back 68 cents, Focus Media (FCMN) 77 cents, JA Solar (JASO) 60 cents and Solarfun (SOLF) 88 cents.

Former favorite junior biotech Questcor (QCOR) jumped 78 cents, closing at 6.79, a new multi-year high, breaking out of a 9-month trading range.

Stepping back and reviewing the hourly chart patterns, as indicated the indices were back and forth for most of the session, trading in a wide range, but closed mixed on the day, inconclusive evidence as to where the trend lies. The indices do have an opportunity to turn it around if they can thrust strongly on Monday, but a week opening would be ominous for the market.

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.