The stock market indices had a very volatile day, especially after the FOMC announced that they kept rates unchanged. The morning was spent with the indices moving back and forth on the Nasdaq 100, holding support. The S&P 500 kept moving steadily lower in a down channel until the FOMC report.

At that point they dipped, exploded to new highs across 2000 on the NDX, to just under 2003, and the S&P 500 ran to 1148.60. Then they rolled over hard to new session lows on the NDX, holding just above the early lows on the SPX, and then bounced in the last 20 minutes into the close, which left them near flat on the day.

Net of the day, the Dow was up just 7.41 at 10,761.03, with a high of 10,833. The S&P 500 was down 2.93 at 1139.78, and got as high as 1148.59. The Nasdaq 100 was down 0.32 at 1989.11, after getting to just under 2003, reversing all of its profits from earlier.

Advance-declines were nearly 2 to 1 negative on the New York Stock Exchange, and about 3 to 2 negative on Nasdaq. Up/down volume was more than 2 to 1 negative on New York on total volume of just under 1.2 billion shares traded today. Nasdaq had about a 4 to 3 negative ratio on total volume of just over 2 billion today.

TheTechTrader.com board was mostly lower, but there were some outstanding stocks on the upside. IDT Corporation (IDT), a swing trade pick of ours today, gained 1.00 to 17.28. JinkoSolar Holding Co., Ltd. (JKS) jumped 1.39 to 30.81, and Green Mountain Coffee Roasters Inc. (GMCR) 1.03 to 37.00.

Those were the only point-plus gainers on our board today.

Other stocks of note on the upside were swing trade pick VirnetX Holding Corp (VHC), up 30 cents to 12.60, with the high today of 13.04. Amtech Systems Inc. (ASYS) was up 36 cents to 15.81, and the Direxion Daily Small Cap Bear 3X Shares (TZA) up 44 cents to 27.54.

It was mixed picture on our board today.

On the downside the only point-plus losers were Acme Packet, Inc. (APKT), down 1.20 to 37.60, and Radware Ltd. (RDWR), off 1.10 to 35.71. There were quite a few fractional losers today.

Stepping back and reviewing the hourly chart patterns, the indices had a mixed picture with a flat close, which is interesting after yesterday’s spike up and then the post-FOMC rally today.

We’ll see if the indices can maintain these lofty levels. Key support at 1980 NDX and 1135 on the S&P 500 will be watched carefully to see if they can hold the line tomorrow.

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