The stock market indices suffered another loss today, and they were hit especially hard on the Nasdaq 100 in the morning. The indices dropped from the get-go, with the S&P 500 falling from 1226 down to 1210, and the Nasdaq 100 from 2260 down to 2220. They rallied midday, and had a sharp snapback recovering about 50% of their losses. Resistance proved futile, and they pulled back to test the lows on the S&P 500, and made higher lows on the NDX. When that occurred late in the day, they snapped back sharply, but in the last 10 minutes pulled back once again to end with steep losses.

Net on the day, the Dow was down 131.46 at 11,823.48, the S&P 500 13.91 to 1211.82, and the Nasdaq 100 down 35.34 at 2233.03

Advance-declines were 22 to 8 1/2 negative on the New York Stock Exchange, and about 16 1/2 to 9 negative on Nasdaq. Up/down volume was 3 1/2 to 1 negative on New York, with total volume of 900 million shares traded today. Nasdaq traded 1.8 billion shares with 1.56 billion of that to the downside, and had a 6 to 1 negative volume ratio today.

It was another very decidedly negative day on Wall Street.

TheTechTrader.com board, as a result, was mostly negative today. The vast majority of the stocks on the board were down steep, led by Apple Inc. (AAPL), down 8.62 to 380.19. First Solar, Inc. (FSLR), which we shorted this morning, lost 9.12 to 33.45. Universal Display Corp. (PANL) fell 2.34 to 34.40, International Business Machines Corp. (IBM) 2.43 to 188.72, Goldman Sachs (GS) 1.79 to 93.25, SodaStream International Ltd. (SODA) 1.60 to 31.57, SolarWinds, Inc. (SWI) 1.54 to 29.13, Nu Skin Enterprises Inc. (NUS) 1.70 to 46.49, Molycorp, Inc. (MCP) 1.37 to 27.10, and Netflix, Inc. (NFLX) 1.07 to 71.04.

The Direxion Daily Small Cap Bull 3X Shares (TNA) gave back 1.51 to 39.69.

On the plus side, leading the way today by far was low-priced eOn Communications Corp. (EONC), up 97 cents to 1.99, or 95%, on a whopping 1.8 million shares. That was a 7,000% increase in volume today.

ViroPharma Inc. (VPHM) exploded, going from 23 1/2 to 28 1 /2, and closed at 27.80, up 4.21, or 17%.

Airlines were strong today. Delta Air Lines Inc. (DAL) was up 16 cents to 8.15, Pinnacle Airlines Corp. (PNCL) up 16 cents to 1.18, US Airways Group, Inc. (LCC) 40 cents to 5.59, and JetBlue Airways Corporation (JBLU) 20 cents to 5.12.

In addition, Ampio Pharmaceuticals, Inc. (AMPE) was up 1.00 to 6.00, or 20%; Accelr8 Technology Corp. (AXK) 56 cents to 1.90, or 42%; RiT Technologies Ltd. (RITT) 64 cents to 4.73, or 16%; and TranS1, Inc. (TSON) 25 cents to 2.03, or 14%.

The ultra-shorts did well today. ProShares UltraShort Silver (ZSL) jumped 1.65 to15.40, Direxion Daily Energy Bear 3X Shares (ERY) 1.02 to 13.52, and ProShares UltraShort DJ-UBS Crude Oil (SCO) 3.72 to 42.10. The Direxion Daily Small Cap Bear 3X Shares (TZA) was up 1.21 to 30.88, and Direxion Daily Large Cap Bear 3X Shares (BGZ) 1.07 to 33.46.

Bio-Reference Laboratories Inc. (BRLI) gained 1.13 to 15.53, Avon Products Inc. (AVP) 82 cents to 16.96, and Vertex Pharmaceuticals Incorporated (VRTX) 1.88 to 30.54, rounding out the gainers.

Stepping back and reviewing the hourly chart patterns, the indices were down sharply early on until the lunch hour when they rallied sharply, and took back 50% of the losses, and then rolled over to retest in the afternoon. That was successful, but after bouncing late in the day, they pulled back in the last 10 minutes to end with quick losses.

It was a pretty nasty day today, but let’s see how it goes tomorrow.

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