The stock market indices had a very strong start to the day today, moving sharply off the opening levels to new session highs and rally highs, and 2010 highs in the first 90 minutes or so. At that point they pulled back and consolidated for the rest of the session, bounced late in the day but weren’t able to reach the earlier highs.

Net on the day, the Dow was up 46.48 at 10,973.55, reaching 10,988, just short of 11,000 today. The S&P 500 closed at the highs for the year at 1187.44, up 9.34, and the Nasdaq 100 was up 18.27 to 1977.83.

Advance-declines were positive by 3 to 1 positive on the New York Stock Exchange and by a similar amount on Nasdaq. Up/down volume was also quite positive today.

TheTechTrader.com board was mostly higher, with several point-plus gainers. Leading the way today China Agritech (CAGC) at 24.36 up 1.37, and Dendreon (DNDN) at 38.19 up 1.17 with a new all time high tagged at 38.24. Las Vegas Sands Corp. (LVS) was very strong today, up 2.06 to 23.36.

Large fractional gainers included Brigham Explorations (BEXP), which tagged 17.98, closing at 17.96, up 84 cents on 4.5 million, just short of its all-time high. American International Group (AIG) jumped 95 cents to 35.06, Clean Energy Fuels (CLNE) 65 cents to 23.47, and junior oil Callon Petroleum Co. (CPE) 58 cents to 6.04 on 1.75 million today.

Cardiome Pharma Corp. (CRME) gained 55 cents to 7.69, City Telecom HK (CTEL) 64 cents to 16.98, and Gulfport Energy (GPOR) 65 cents to 14.07 in a strong junior oil sector. Integrated Silicon Solutions (ISSI) added 60 cents to 11.29, a solid session there.

JAZZ Pharmaceuticals (JAZZ) jumped 41 cents to 11.41, L&L Energy (LLEN) 51 cents to 12.74, and McMoRan (MMR) 66 cents to 15.96, also in the oil sector. Northern Oil and Gas, Inc. (NOG) advanced 68 cents to 17.38.

POZEN (POZN) closed up 87 cents at 10.61 in the biotech group, as did Salix Pharmaceuticals (SLXP), up 72 cents to 39.32, reaching new all-time high today at 39.85.

On the downside, there were no point-plus losers and only a few fractional decliners. Somaxon Pharmaceuticals (SOMX) fell 48 cents to 8.11 and Direxion Daily Financial Bear 3x (FAZ) dropped 44 cents today to 12.70.

Stepping back and reviewing the hourly chart patterns, the indices were up sharply in the morning, consolidated the rest of the day and closed not far off the session highs. A very strong start of the week once again!

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