The stock market indices managed to squeeze some minor gains at the end of the day to close higher, after a late rush put the indices right near the session highs on the blue chip indices. The Dow closed near its daily high, while the S&P 500 closed at its exact high for the day.

The day started out with a bit of a move down to test support. That held, and they bounced sharply, retested the highs on the Nasdaq 100 but fell short on the S&P 500. They then rolled over pretty hard, but held 1870 and 1122 on the NDX and SPX, respectively. When that held 3-4 times during the session, they began to rally late in the session, though not with any big conviction or volume, as today was one of the lowest volume days of the year. Nevertheless, they closed near the highs for the day going away.

Net on the day the Dow was up 3.10 at 10,548.51, the S&P 500 22 cents at 1126.42, and the Nasdaq 100 up 6.63 at 1878.65. The Philadelphia Semiconductor Index (SOXX) also had a good day, up 5.21 to 361.39.

The technicals were negative by 250 more decliners than advancers on New York, but slightly positive by about 14 issues up for every 13 down on Nasdaq. Up/down volume was about 3 to 2 negative on New York on total volume of a little less than 630 million. Nasdaq traded about 1.25 billion and had a 7 to 5 1/2 positive volume ratio.

TheTechTrader.com board was fractionally mixed, with the majority of stocks higher. Leading the way on the upside was OSI Systems (OSIS) up 2.40 to 27.46, Also in that group, ICx Technologies (ICXT) gained 2.23 to 8.53, up 35.4% today.

Goldman Sachs (GS) advanced 2.58 to 166.70. AgFeed Industries (FEED) had a monster day, reaching as low as 9.36 this morning, only to turn around by nearly 4 points and close at 12.80, up 3.12 on nearly 33 million shares, after announcing a redemption of their bonds.

SIGA Technologies (SIGA) added 39 cents to 5.98, Compugen (CGEN) snapped back 28 cents to 4.90, AsiaInfo (ASIA) was up 76 cents to 31.08, and A-Power Energy (APWR) advanced 56 cents to 18.84 in a generally higher afternoon for the Chinese stocks, as they came back late in the session.

On the downside, there were no point-plus losers other than Telestone Technologies (TSTC), which gave back 1.15 to 19.59. China Agritech (CAGC) lost 61 cents to 27.50, and China Green Agriculture (CGA) 33 cents to 14.92.

Stepping back and reviewing the hourly chart patterns, they were up early, came back down and tested three times mid-day, and then rallied in the afternoon to close near the session highs going away, as the Santa Claus rally continues.

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com.