The stock market indices closed the week with a bang to the upside, closing at the highs for the day going away as an afternoon rally brought them back to new highs for the session, for the week, and for the last several weeks, in fact.

Net on the day, the Dow was up 166.36 at 11,644.36, the S&P 500 up 20.92 at 1224.58, and the Nasdaq 100 up 45.06 at 2371.94, the high for the day.

Advance-declines were 2530 up and 493 down, or 5 to 1 positive, on the New York Stock Exchange. Nasdaq advance-declines were 3 to 1 positive. Up/down volume was 775,000 up and 100 million down, or 7 1/2 to 1 positive on New York, with total volume of a light 838,000 million shares traded today. Nasdaq traded 1.66 billion shares and had a 3 to 1 positive volume ratio.

TheTechTrader.com board was mostly higher. Leading the way by far was Apple Inc. (AAPL), up 13.57 to 422.00 even, just short of an all-time new high. Amazon.com Inc. (AMZN) gained 10.56 to 246.71, International Business Machines Corp. (IBM) 3.71 to 190.53, which is an all-time new high, and Chipotle Mexican Grill, Inc. (CMG) 3.49 to 320.80.

Universal Display Corp. (PANL) was up 3.19 to 51.36, Molycorp, Inc. (MCP) 1.92 to 39.09, MAKO Surgical Corp. (MAKO) 2.35 to 41.50, Brigham Exploration Co. (BEXP) 1.70 to 30.36 in a strong oil group, and Aruba Networks, Inc. (ARUN) 1.19 to 24.53. .

In addition, Mitek Systems Inc. (MITK) had a big day today, up 87 cents to 11.55, or 8%, on the biggest volume in nearly a month.

Also, low-priced USEC Inc. (USU) was up 71 cents to 2.04, or 53.3%, on 6.77 million shares traded. Oxigene Inc. (OXGN) gained 28 cents to 1.32, or 37%, on over 3 million shares. GTX Inc. (GTXI) jumped 68 cents to 4.02, or 20.36%, on 672,000 shares, while China Shen Zhou Mining & Resources, Inc. (SHZ) rose 34 cents to 1.88, or 22%, on 880,000 shares. ATP Oil & Gas Corp. (ATPG) added 1.48 to 10.65, or 16%, on over 3 million shares, and Flotek Industries Inc. (FTK) 50 cents to 6.14, or 9%, on 1.34 million shares. .

Harman International Industries Inc. (HAR) was up 3.27 to 37.46, or nearly 10%; W&T Offshore Inc. (WTI) 1.54 to 17.77, or 9.5%; and Riverbed Technology, Inc. (RVBD) 1.93 to 23.41, or 9%.

The Direxion Daily Small Cap Bull 3X Shares (TNA) was up 2.44 to 43.23.

The ultra-shorts got hammered today. VelocityShares Daily 2x VIX ST ETN (TVIX) was down 6.38 to 49.89, from 109 two weeks ago. The Direxion Daily Small Cap Bear 3X Shares (TZA) lost 2.32 to 36.48, the iPath S&P 500 VIX Short-Term Futures ETN (VXX) 2.42 to 40.46 and the Direxion Daily Large Cap Bear 3X Shares (BGZ) 1.95 to 35.50.

Stepping back and reviewing the hourly chart patterns, the indices had a huge gap up, pulled back and did about a .38 Fibonacci retracement, held 2345 NDX and 1212 S&P 500. It slowly began to rise, and then accelerated into the close.

That was an excellent way to close the week today.

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