As the second day of this shortened trading week, today could be considered "turnaround Tuesday." The stock market indices opened strong and kept running all day. Only a mid-morning consolidation, and a bullish one at that, prevented the indices from going straight up all session. At the end of the day the indices exploded into the close and closed above 10,000 on the Dow.

Net on the day, the Dow closed above 10,000 at 10.018.29, up 274.66. The S&P 500 was up 32.21 at 1060.27, just pennies off its high, and the Nasdaq 100 up 54.09 at 1789.72, also just pennies off its high.

Advance/declines were about 6 to 1 positive on the New York Stock Exchange and 21 to 6 positive on Nasdaq. Up/down volume was 20 to 1 positive on New York with total volume of about 1.3 billion traded and 19 to 2 positive on Nasdaq with total volume of 2.1 billion. A very impressive day today.

TheTechTrader.com board, as a result, was nearly all higher. Every stock on the board was up today, except for NexMed, Inc. (NEXMD), which had a big day yesterday and got some profit-taking today, closing at 3.20, down 63 cents.

Big caps had a monster day, with Google Inc. (GOOG) up 14.13 at 450.20, Apple Inc. (AAPL) 10.14 at 258.67, Cree Inc. (CREE) 5.11 at 66.07, Amazon.com Inc. (AMZN) 3.37 at 113.43, and Goldman Sachs (GS) 3.57 at 135.83. Transocean Ltd. (RIG) jumped nearly 3.00 today, closing up 2.99 at 51.14, and OmniVision Technologies Inc. (OVTI) had an excellent day, up 2.39 at 23.18.

Other point-plus gainers included Acme Packet, Inc. (APKT) up 1.89 at 28.49, Brigham Exploration Co. (BEXP) jumped 1.06 at 15.93, BP Exploration plc (BP) 1.28 at 33.19, and Cirrus Logic Inc. (CRUS) 1.67 at 17.29.

Dendreon Corp. (DNDN) snapped back from 25.78 to 29.38 and closed at 29.09, up 1.78, a big reversal day at 3.50 off its low.

Trina Solar Ltd. (TSL) was up 1.25 at 20.55, and Valassis Communications Inc. (VCI) up 2.02 at 31.10 rounded out the gainers.

Ultra-long Direxion Daily Financial Bull 3X Shares (FAS) also gained 2.27 at 20.58.

On the downside, other than NEXMD, only the ultra-short ETFs had a tough day. Direxion Daily Financial Bear 3X Shares (FAZ) dropped 2.25 at 15.89, Direxion Daily Emrg Mkts Bear 3X Shares (EDZ) 2.96 at 42.44, the iPath S&P 500 VIX Short-Term Futures ETN (VXX) 1.80 at 26.90, and the Direxion Daily Large Cap Bear 3X Shares (BGZ) 1.79 at 16.67. The Direxion Daily Small Cap Bear 3X Shares (TZA) lost 93 cents at 8.04.

Stepping back and reviewing the hourly chart patterns, the indices gapped up at the opening and ran up sharply higher in a 5-wave advance until mid-morning when they paused to refresh. At that point, by mid-day, they broke out again and ran harder even in the afternoon, especially in the last hour and a half where they exploded sharply higher into the close. They blew through resistance levels all day in a very impressive day technically.

We’ll see what kind of follow-through, if any, we get tomorrow. It certainly looks like they turned around, at least for a few days.

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