The stock market indices had a spectacular session for most of the day. A very sharp, late sell-off pared back the gains, but, nevertheless, it was still a big day.

The day started out with monster gap-ups on positive news out of Europe. They then sold off pretty sharply, but held the majority of their gains, and then started a 5-wave advance that took the Nasdaq 100 from 2366 all the way up to 2412 today. A late sharp pullback brought it back to 2390, but it closed just under 2400. The S&P 500, which gapped up and pulled back about 10 points, ran from 1265 to 1293. A sharp pullback to 1279 ensued, but then it closed back up at 1284.

Net on the day, the Dow was up 339.51 at 12,208.55, or 3%; the S&P 500 up 42.56 at 1284.59, or 3 1/2%; and the Nasdaq 100 up 65.04 at 2399.83, or about a 3% gain.

So, it was a big day across the board.

Technicals were fantastic. Advance-declines were about 8 to 1 positive with 2715 up and 360 down on the New York Stock Exchange, and Nasdaq was 5 1/2 to 1 positive with 2200 up and 432 down. Up/down volume was spectacular today at 20 to 1 positive on New York with 1 1/3 billion up and 67 million down. Nasdaq had 2.4 billion up and 358 million down, and an 8 to 1 positive volume ratio.

It was certainly a big day on Wall Street today.

TheTechTrader.com board was extremely positive today. Leading the way, Citrix Systems, Inc. (CTXS) was up 11.13 to 75.35, Akamai Technologies Inc. (AKAM) up 3.67 to 27.45, VASCO Data Security International Inc. (VDSI) 1.85 to 8.13, Logitech International SA (LOGI) 1.33 to 10.34, and Century Aluminum Co. (CENX) 1.86 to 11.71.

In addition, QuickLogic Corp. (QUIK) was up 63 cents to 2.93, or 27%; Acme Packet, Inc. (APKT), a stock we traded today, was up 5.63 to 35.18, or 19%; Terex Corp. (TEX) 2.79 to 17.73, or 18 1/2%; SolarWinds, Inc. (SWI) 3.86 to 27.90, or 16%; Finisar Corp. (FNSR) 2.42 to 20.76, or 13%; Chinese Zhongpin, Inc. (HOGS) 1.09 to 9.73, or 12 1/2%; Basic Energy Services, Inc. (BAS) 2.11 to 19.40, or 12%; Polypore International Inc. (PPO) 5.57 to 51.58, or 12%; Northern Oil and Gas, Inc. (NOG) 2.63 to 24.91, or 12%; and Bally Technologies, Inc. (BYI) 3.73 to 37.01, or 11%.

Coal stocks were strong today with Patriot Coal Corporation (PCX) up 1.25 to 12.21, and Alpha Natural Resources, Inc. (ANR) ahead by 1.85 to 24.73.

Other gainers of note included Apple Inc. (AAPL) up 4.09 to 404.69, Amazon.com Inc. (AMZN) 8.38 to 206.78, Goldman Sachs (GS) 10.07 to 116.40, Molycorp, Inc. (MCP) 2.06 to 40.29, Chipotle Mexican Grill, Inc. (CMG) 10.69 to 343.52, International Business Machines Corp. (IBM) 3.91 to 185.88, Travelzoo Inc. (TZOO) 1.51 to 31.25, Google Inc. (GOOG) 12.36 to 598.67, Netflix, Inc. (NFLX) 1.46 to 80.86, and Coffee Holding Co.Inc. (JVA) 90 cents to 10.63.

The financial sector, which hasn’t been doing too well for the most part, did quite well today. Goldman Sachs (GS) was up 10.07 to 116.40, Mastercard Incorporated (MA) up 20.09 to 349.15, Bank of America Corporation (BAC) 63 cents to 7.22, Wells Fargo & Company (WFC) 1.31 to 27.07, JPMorgan Chase & Co. (JPM) 2.84 to 37.02, Citigroup, Inc. (C) 3.02 to 34.17, and American International Group, Inc. (AIG) 1.20 to 26.52.

The Direxion Daily Small Cap Bull 3X Shares (TNA) did very well today, up 7.11 to 52.37, or 15.7%.

On the downside, Mitek Systems Inc. (MITK) was a casualty today, closing down 1.11 to 10, on 1.1 million. InterDigital, Inc. (IDCC) lost 95 cents to 44.20 after a big reversal of 4 points off the high.

The ultra-shorts got hammered today. VelocityShares Daily 2x VIX ST ETN (TVIX) was down 12.14 to 58.13, the Direxion Daily Financial Bear 3X Shares (FAZ) down 7.20 to 36.13, the Direxion Daily Large Cap Bear 3X Shares (BGZ) 3.49 to 29.93, iPath S&P 500 VIX Short-Term Futures ETN (VXX) 5.58 to 36.45, and the Direxion Daily Small Cap Bear 3X Shares (TZA) 5.32 to 27.91.

It was a blood bath for the ultra-shorts.

Stepping back and reviewing the hourly chart patterns, the indices were up sharply in the morning, pulled back early, and then ran hard in a 5-wave advance for the rest of the session, until about the last 30 minutes when they pulled back very sharply. Only in the last five minutes did they snap back sharply and take back about half of their late losses. But still, it was a spectacular day on Wall Street.

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