The stock market indices had an up-day today. The session started out with a big pop to the upside on strong pre-market futures. The indices gapped up, reached there session highs within the first half hour at 2381and change on Nasdaq 100, and above 1296 at 1296.46, on the S&P 500. They then pulled down in a strong 3-wave decline that tested support successfully, and by lunch hour they were rallying back up into mid-afternoon. They rolled over into the close, but in the last few minutes they bounced just a little to firm up the results.

Net on the day, the Dow was up near 70 today at 60.79, reaching 12,462.47, 52 points off its high. The S&P 500 was up 11.38 at 1292.08, about 4 points off its high, and the Nasdaq 100 up 16.73 at 2367.38, about 14 points off its high.

So, they did close substantially off the highs from the morning.

Advance-declines were better than 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on Nasdaq. Up/down volume was 4 to 1 positive on New York, with total volume of 812 million shares traded today. Nasdaq traded about 1.8 billion shares and had a 13 to 5 positive volume ratio.

TheTechTrader.com board, as a result, was very busy, and very active. There were some huge gainers today. Leading the way was IPG Photonics Corporation (IPGP), up 8.01 to 47.43, or 20.3%.

Other stocks of note included Cobalt International Energy, Inc. (CIE) up 2.19 to 18.06, Charles River Laboratories International, Inc. (CRL) 4.79 to 32.47, VOXX International Corporation (VOXX) 1.86 to 10.89, Cirrus Logic, Inc. (CRUS) 2.67 to 19.64, and Francesca’s Holdings Corporation (FRAN) 2.20 to 20.31.

In addition, Apple Inc. (AAPL) up 1.51 to 423.24, Goldman Sachs (GS) 3.64 to 98.33, SodaStream International Ltd. (SODA) 1.21 to 37.91, SolarWinds, Inc. (SWI) up another 1.12 to 29.67, Universal Display Corp. (PANL) 1.59 to 40.19, Golar LNG Ltd. (GLNG) 1.02 to 47.57, and First Solar, Inc. (FSLR) 1.93 to 38.77.

Two biotech favorites that were outstanding today were Idenix Pharmaceuticals Inc. (IDIX), exploding for 2.34 to 12.00, or 24%, and Achillion Pharmaceuticals, Inc. (ACHN), up 2.18 to 11.90, or 22.5%.

Low-priced Omeros Corporation (OMER) was up 1.02 to 5.49, or 23%, and Perfect World Co., Ltd. (PWRD) up 1.72 to 10.53, or 19 1/2%.

Regeneron Pharmaceuticals, Inc. (REGN) advanced 8.96 to 13.68, DSW Inc. (DSW) 5.47 to 48.11, Sina Corp. (SINA) 6.17 to 54.37, Lululemon Athletica Inc. (LULU) 6.17 to 59.87 on strong earnings, and Life Technologies Corporation 3.52 to 46.17.

On the downside, Netflix, Inc. (NFLX) gave back 2.35 to 95.83, reaching up to near 100 earlier today.

No other stocks lost more than a point other than some of the ultra-shorts that got hammered. The Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.78 to 32.33, VelocityShares Daily 2x VIX ST ETN (TVIX) down 1.08 to 23.54, and the Direxion Daily Small Cap Bear 3X Shares (TZA) 1.10 to 23.96.

Stepping back and reviewing the hourly chart patterns, the indices were up sharply on gaps in the morning, and rolled over and gave back a big chunk of it, especially on Nasdaq. The S&P 500 held up better and then rallied back in the afternoon only to back off again, holding support on the Nasdaq 100 and on the S&P 500, before firming up into the close.

It was another good day for the indices, and we’ll see how it goes tomorrow.

Bill Bonner is the President of Agora Publishing. For more on Bill Bonner, visit The Daily Reckoning.