Another up-day for the indices as the week got started on a positive note. 

But the day started out with a move down that held support on the NDX.  The S&P barely went lower and was much more positive today.  The indices then rallied, the S&P to new highs and the NDX not confirming.  Then they retested, and the NDX held while the S&P made a higher low.  Then they moved up in a tedious mini up-channel for most of the afternoon and accelerated into the last hour.

Net on the day, the Dow broke through 10,800, closing at 10,820 up 54.  The S&P at nearly 1265 was up 6 1/2, and the NDX closed up 6 1/3.  The Sox was barely ahead today, just by 0.12, but by about 3 points off the earlier low.

The technicals were positive by 5 to 3 on New York and 3 to 2 on Nasdaq.  Up/down volume was 2 to 1 positive on New York on total volume of about 1.5 billion.  Nadsaq traded about 1.65 billion with about a 2 to 1 positive ratio as well.

So, it was a decent day.  The technicals confirmed.  TheTechTrader.com board was mostly higher, except for a couple issues.  The leaders today were China Techfaith (CNTF), following up on last week's rally, up another 1.34.  Neoware (NWRE), one of our model portfolio positions, was up 1.33. 

Convera (CNVR), also another model portfolio position, was up 1.04, and Cutera (CUTR) was up 1.29.

Radvision (RVSN) snapped back by 40 cents, and Dynamic Materials (BOOM) gained 31 cents.

On the downside, loss leaders were Forward Industries (FORD), which gave up another 1.19, and looking very weak, particularly in a stronger market, and Astea International (ATEA), which took some profits on last week's big gain, off 73 cents.

Stepping back and reviewing the overall patterns, the indices rallied late in the day after a day and a half of consolidating for the Nasdaq 100, and S&P 500 and Dow went to new 2005 highs.  The NDX has not confirmed yet.

Let's see how it goes tomorrow, but we're getting long in the tooth here.  However, momentum is still strong on the upside.

Good trading!

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com, a real-time diary of his day, swing and intermediate-term trades. For more of Harry Boxer, sign up for a FREE 15-day trial to his Real-Time Technical Trading Diary, or sign up for a Free 30-Day Trial to his Top Charts of the Week service.