It was a wild ride on Wall Street today as the stock market indices were quite volatile. They gapped down at the opening, rallied sharply to resistance, came down in a 3-wave decline that reached new session lows, and then snapped back in a 3-wave advance. The move was very sharp, in particular, in the last half hour when the indices exploded, taking the Nasdaq 100 from 2152 to 2192 and the S&P 500 from 1140 to 1162. As a result of that they went from losses to profits for the day.

Net on the day, the Dow was up 68.99 at 11,061.12, the S&P 500 up 8.04 at 1162.27, and the Nasdaq 100 up 29.18 at 2191.84.

Advance-declines did not manage to get back into the plus column on the New York Stock Exchange, but they did on Nasdaq. They were about 60 issues lower on New York, and 360 issues higher on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 1.1 billion shares traded. Nasdaq traded 1.95 billion shares, and had a 3 to 1 positive volume ratio.

TheTechTrader.com board, as a result of the late rally, had a stellar up-session. Apple Inc. (AAPL) gained 2.46 to 379.94, 8 points off its low, and Amazon.com Inc. (AMZN) was up 5.17 to 216.56, 8 points off its low as well. Google Inc. (GOOG) jumped 5.27 to 530.12, 13 points off its low, and Netflix, Inc. (NFLX) added 6.08 to 210.05, 12 points off its low.

In addtiion, Universal Display Corp. (PANL) advanced 1.47 to 51.23, InterDigital, Inc. (IDCC) 2.18 to 66.46, and Stamps.com Inc. (STMP), a swing trade of ours, 1.72 to 21.16. EZchip Semiconductor Ltd. (EZCH) rose 3.25 to 32.65, Maxwell Technologies Inc. (MXWL) 1.41 to 17.15, Acme Packet, Inc. (APKT) 3.93 to 49.52, and Cavium Networks, Inc. (CAVM) 2.19 to 33.10.

Low-priced RXi Pharmaceuticals Corporation (RXII) jumped 14 cents to 1.14, or 14%, and Cal Dive International Inc (DVR) was up 36 cents to 2.77, or 15%.

The ProShares UltraShort Silver (ZSL) was up 80 cents to 12.31.

Ultra-short ETFs were all over the place today. They were sharply higher by mid-afternoon, but then closed mixed on the day. The VelocityShares Daily 2x VIX ST ETN (TVIX) closed up 1.42 to 69.25, while the Direxion Daily Financial Bear 3X Shares (FAZ) was down 2.13 to 61.22 and the Direxion Daily Small Cap Bear 3X Shares (TZA) dropped 1.34 to 47.32, 4 points off its high.

On the downside, there was not much action on our board other than Molycorp, Inc. (MCP), which had a terrible day, dropping 1.41 to 52.70.

There was a big reversal to the upside today, so we’ll have to see if it gets a follow-through tomorrow.

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