The markets were up all session and closed near the highs for the day going away and near a new 2006 high on the S&P 500.

The day started out with a quick burst at the opening that took the NDX up near its high for last week.  The S&P 500 actually took out last week's high nominally.  They pulled back and retested the intraday moving averages successfully, ran back up to the highs, took out the high on the S&P, but not on the NDX.  They backed off, retested, and then blew through both highs, and steadily moved up in the afternoon.

Net on the day, the Dow was up 75, the S&P 500 13 1/3, and the NDX 27 1/3.  The SOX Index, which was strong most of the session, was up 11.15 or more than 2 percent, and a chief reason for the strength in Nasdaq today.

Technicals were nearly 3 to 1 positive on advance-declines on New York and 3 to 2 positive on Nasdaq.  Up/down volume, however, was the story, with 4 1/2 to 1 positive on New York on a total of 1.5 billion. Nasdaq traded nearly 1.9 billion with a nearly 3 to 1 positive ratio on volume.

TheTechTrader.com board was mostly higher, with several outstanding issues today.  DXP Enterprises (DXPE), up 3.54, led the way.  Portfolio position PW Eagle (PWEI) snapped back 1.23, as did Dynamic Materials Corp. (BOOM), up 1.38.  Apple Computer (AAPL) advanced 1.64, Broadcom (BRCM) 93 cents, Energy Conversion Devices (ENER) 61 cents, Novavax (NVAX) 51 cents, and Rediff.com India (REDF) up 57 cents.

On the downside, fractional losses were highlighted by Radvision (RVSN), off 60 cents, continuing its weak trend this week.  Viisage (VISG) fell 22 cents, Universal Display (PANL) 37 cents, and Pacific Ethanol (PEIX) 38 cents.

Stepping back and reviewing the hourly chart patterns, today's action popped the Nasdaq 100 back up through its declining 40-day moving average.  It's the first time it's taken that out in two weeks. It then took out key resistance in the 1670-72 zone and closed over 1680 today, a strong session indeed.

The S&P 500 assaulted its 2006 double-top near 1297 1/2.  It nominally exceeded it late in the session, but backed off at the close just a few cents beneath it.

So, we're at a triple-top of sorts on the S&P 500, and we'll see if we can power through here.  However, the NDX is far away from its previous highs, and so far would be showing a non-confirmation.

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.