The stock market indices suffered another down day today as the Dow lost more than 117 points.

The day started out with a move to the downside, and then a 5-wave move that took the indices to pullback lows for the entire last several sessions. The Nasdaq 100 reached 2288 today, and the S&P 500 dipped just under 1310. They both reversed in the afternoon in a kind of shallow, bear-flag-type pattern rebound, which tagged the declining topsline for the last two or three sessions, and then pulled back to retest the lows. When that was successful they rallied into the close. But, still, substantial losses were suffered today.

Net on the day, the Dow was down 117.53 at 12,263.58, the S&P 500 down 10.30 at 1314.16, and the Nasdaq 100 down 16.20 at 2298.30.

Advance declines were 3 to 1 negative on both the New York Stock Exchange and on Nasdaq. Up/down volume was a little better than 2 to 1 negative on New York on total volume of about 938 million. Nasdaq traded 1.8 billion, and had a 14 to 4 negative volume plurality.

TheTechTrader.com board was mostly lower today, but there were several outstanding issues as well. On the plus side, the star of the day was Identive Group, Inc. (INVE), up 3.03 to 5.69, a whopping gain of 114%.

Other stocks of note included Idenix Pharmaceuticals Inc. (IDIX) up 65 cents to 3.84, Tibco Software, Inc. (TIBX) up 1.06 to 28.05, Gildan Activewear Inc. (GIL) 1.94 to 33.96, Westport Innovations Inc. (WPRT) 84 cents to 24.29, and Rare Element Resources Ltd. (REE) 63 cents to 15.74. SodaStream International Ltd. (SODA) jumped 1.47 to 42.62, and Exelixis, Inc. (EXEL) 36 cents to 11.41.

In the large-cap sector, Chipotle Mexican Grill, Inc. (CMG) advanced 5.89 to 274.30, and Apple Inc. (AAPL) was up 1.60 at 332.40.

Ultra-short ETF Direxion Daily Small Cap Bear 3X Shares (TZA) jumped 1.40 to 37.58.

On the downside, point-plus losers included InterDigital, Inc. (IDCC) down 1.63 to 44.76, OmniVision Technologies Inc. (OVTI) 1.26 to 30.57, VirnetX Holding Corp (VHC) 3.81 to 21.71, and Amazon.com Inc. (AMZN) 3.56 to 180.48.

Stepping back and reviewing the hour chart patterns, the indices were down sharply in the morning, bounced midday and early afternoon, and then backed off to retest in the afternoon, but snapped back into the close, but still closed down on the day. It was an distinctive down day, but a double-bottom test of key support on the NDX and another test of support near 1310 on the S&P 500 was so far successful. We'll see if that lasts.

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