Wall Street had another up-session, but the indices only showed minor advances today.  It was a fairly broad move, with a solid advance-decline and up/down volume session, and volume was fairly strong, too.

The indices ended up with nominal gains in the blue chips and a solid gain on Nasdaq, but the Philadelphia Semiconductor Index (SOXX) was down today.

The day started out with a move up right at the get-go.  They pulled back and retested, and made higher highs for most of the day on the Nasdaq, but failed to do so on the S&P 500. Over the last hour and a half or so the indices did breakout to new multi-year highs on the S&P, with the Dow extending its all-time highs and the NDX to new 5 month highs.

Net on the day, the Dow was up just 16, the S&P 500 just 3, and the Nasdaq 100 up 8 Ã,¼.

But advance-declines were 22 to 10 on New York and 20 to 9 on Nasdaq.  Up/down volume was about 2 to 1 positive on New York on total volume of more than 1.7 billion.  Nasdaq traded 1.9 billion with a 2 to 1 positive plurality.

TheTechTrader.com board  was mostly higher today, with some very strong outstanding stocks.  A couple of the junior biotechs did extremely well.  DVAX exploded on nearly 23 million shares, closing up 2.74, and was Nasdaqââ,¬â"¢s leading percentage gainer today, up 55%.

Acorda Therapeutics (ACOR) extended last weekââ,¬â"¢s gains, up 2.84 on 14 million shares, or 27%.  Align Technology (ALGN) advanced 1.20 on 2.8 million, NVE Corp. (NVEC) jumped 2.20 today, Vertex Pharmaceuticals (VRTX) gained 1.91, and Versant (VSNT) was up 1.10.  Radio Shack (RSH) took out an 8-month resistance level, reaching new highs, up 70 cents on more than 3 million, closing at 20.40.

Other stocks of note, II-VI, Inc. (IIVI) advanced 83 cents near its all-time high.  Interphase (INPH) was up 59 cents and SIMG 49 cents.

Apple Computer (AAPL) had a negative session, down 55 cents, and CTDC gave 55 cents from recent gains.

Stepping back and reviewing the hourly chart patterns, momentum is king and the market moved higher in rising flag type formations.  Momentum has not been broken, and prices may still advance higher until they actually take out key support and so some serious testing.

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.