The markets had some volatility today but net at the end of day they were mixed and near flat. 

The day started out with a lower opening that was immediately reversed into a morning rally that peaked out just before lunch hour. That was reversed near Fridayââ,¬â"¢s highs, as they failed to breakout above those levels. The sell-off was rather sharp, lasted for a couple hours, and retested yesterday lows, taking them out on the S&P but not on the NDX.  When that failure to confirm occurred, they rallied back in mid-afternoon, only to back off again into the close.

Net on the day the Dow was down 5, the S&P 500 was up 1.30, and the Nasdaq 100 up 2.30.  The Philadelphia Semiconductor Index (SOXX) was down 0.9, reflecting the mixed closing picture.

However, technicals were positive by 3 to 2 on advance-declines on New York and by about 350 issues on Nasdaq. Up/down volume was 6 to 5 positive on New York on a total of 1.2 billion traded.  Nasdaq had 1.56 billion traded,  with a little better than a 3 to 2 positive ratio on volume.

TheTechTrader.com board was mixed with some point-plus gainers and losers.  On the plus side, Travelzoo (TZOO)  was a leader, up 3.92.  XMSR, which ran hard and strong all day, broke out on more than 32 million shares, up 2.28.  Dynamic Materials Corp. (BOOM) advanced 2.12, Apple Computer (AAPL) 1.06, Pacific Ethanol (PEIX) 1.45 on good volume, and PW Eagle (PWEI) 1.16. 

Stereotaxis (STXS) one of our old favorites, continued its recent snapback, up 99 cents on almost Ã,¾ million. NVE Corp. (NVEC)  on a late rally gained 90 cents.  Chart of the Week NUHC was up 77 cents, MNTA up 61 cents, and Fuel Tech (FTEK) another 51 cents today.

On the downside, the loss leader was DXP Enterprises (DXPE) down 2.59, and UHAL, one of this weekââ,¬â"¢s Boxer Shorts, down 2.58.

Stepping back and reviewing the hourly chart patterns, the NDX remains in a high-level consolidation over the last four days, with support in the 1556-57 zone, with resistance up in the 1577-78 zone.  The S&P 500 is also n a high-level consolidation, with key support at 1294-95 and resistance up around the 1302 area.

Those are the levels weââ,¬â"¢ll be keeping a close eye on to see which direction these indices will take.  A breakout either way could trigger a strong move over the next couple days.

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.