The market had a very strong day as we anticipated in last night's comments.  The day started out with a gap up.  They backed and filled in the morning, held support and the moving averages, and then a strong mid-day rally gave way to a 2-hour pullback that again retested successfully.  Then late in the day they rallied again to close strongly near the highs for the day going away.

Net on the day, the Dow was up 109 points, the S&P 500 up a little less than 11, and the Nadsaq 100 up more than 18 1/2.  The SOX Index was up 7 3/4.

The technicals did reverse to the plus side, with advance-declines about 19 to 14 positive on New York and about 17 1/2 to 13 on Nasdaq.  Total volume was about 1 3/4 billion on New York, with about an 11 to 6 positive ratio on up/down volume.  That was exceeded by Nasdaq, which had a nearly 2 1/2 to 1 positive ratio on volume of more than 2.15 billion.

TheTechTrader.com board  was very active, and many stocks were sharply higher today.  Parlux Fragrances (PARL) led the way, up 3.73 on an excellent earnings report.  Rediff.com India (REDF) exploded for another 6 points earlier in the day.  It gave back a chunk of it, but ended up 3.63 on 5.3 million shares. 

Radvision (RVSN), one of our model portfolio positions, was up 1.81 on strong earnings, with heavy volume.  Energy Conversion Devices (ENER) advanced 88 cents and closed more than 2 points off the earlier low.  Astea International (ATEA) was up 71 cents, Neoware Systems (NWRE) up 95 cents, Nuance Communications (NUAN) up 92 cents to a new multi-year high, and Sify Ltd. (SIFY) up 63 cents.

On the downside, Dynamic Materials Corp. (BOOM) gave back 2 3/4, BioCryst Pharmaceuticals (BCRX) 2 and Bentley Pharmaceuticals (BNT) 1.

Stepping back and reviewing the hourly chart patterns, today's rally, which was expected, came right up to key overhead at the close, at price and moving average resistance on the hourly charts.  We'll have to see whether we can extend that tomorrow.

Good trading!

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com, a real-time diary of his day, swing and intermediate-term trades. For more of Harry Boxer, sign up for a FREE 15-day trial to his Real-Time Technical Trading Diary, or sign up for a Free 30-Day Trial to his Top Charts of the Week service.