The stock market indices got hammered hard on Friday, closing near the lows for the day going away. The day started out with a big gap down and then a big sell of early on. They rallied back to resistance, failed, and began a slow but steady decline that lasted all session and ended at the session lows.

Net on the day, the Dow closed just under 10,100, down 261.41 at 10,097.90. The S&P 500 was down a hefty 31.60 at 1064.88, and the Nasdaq 100 a whopping 52.76 at 1803.48.

Advance/declines were 4 to 1 negative on the New York Stock Exchange. Up/down volume was about 22 to 1 negative with total volume of about 1.5 billion traded. Nasdaq’s advance/declines and up/down volume were even worse, with 2343 issues down and 316 issues up, more than 7 to 1 negative. Up/down volume was more than 2 billion on the downside, 145 million on the upside, about a 15 to 1 negative ratio.

So, it was nasty day today on Wall Street.

TheTechTrader.com board, as a result, was very negative. Leading the way down was Google Inc. (GOOG) with reported earnings that disappointed Wall Street, down 34.41 at 459.61.

Other losses of note were Transocean Ltd. (RIG), down 2.62 at 52.98, BP Exploration plc (BP) 1.82 at 37.10, Amazon.com Inc. (AMZN) 3.57 at 118.49, and Apple Inc. (AAPL) 1.55 at 249.90.

Valassis Communications Inc. (VCI) was down 1.40 at 29.39, RINO International Corporation (RINO) 1.03 at 13.02, Dendreon Corp. (DNDN) 1.16 at 31.29, Cree Inc. (CREE) 3.15 at 65.12, and China Automotive Systems Inc. (CAAS), in a weak Chinese sector, down 1.27 at 17.14. Acme Packet, Inc. (APKT) lost 2.08 at 29.75. In addition, the ETF ultra-long for financials, Direxion Daily Financial Bull 3X Shares (FAS) was down 2.80 at 20.14.

On the plus side, the highlight for the day was new issue RealD (RLD), which jumped 3 1/2 points after its IPO, up 3.51 to 19.51.

In addition, several ETFs were very strong today, including Direxion Daily Small Cap Bear 3X Shares (TZA) up 3.82 at 39.27, Direxion Daily Emrg Mkts Bear 3X Shares (EDZ) up 3.64 at 44.26, Direxion Daily Large Cap Bear 3X Shares (BGZ) 1.27 at 16.30, Direxion Daily Financial Bear 3X Shares (FAZ) 1.71 at 15.81, and iPath S&P 500 VIX Short-Term Futures ETN (VXX) 1.67 at 27.37.

Stepping back and reviewing the hourly chart patterns, the indices were down from the get-go and sharply so in the morning. The angle of decent eased a bit, but still continued lower all day and closed near the session lows in a very bad day on Wall Street.

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