The indices had a topsy-turvy day, particularly in the late afternoon part of the session. The end of the month, end of the quarter and end of the mid-year created a lot of late action. The day started out with a gap up, they went to new rally highs, backed and filled in the morning, and then broke, sold off steadily at mid-day, bounced in the early afternoon and rolled over in a 3-wave decline in the afternoon, the third leg being a very sharp down move that in took the NDX from about 1937 to 1921, a loss of 16 points in about 15 minutes. The S&P in the same period of time dropped about 10 points. So, a nasty sell-off, but in the last 30-35 minutes or so, the indices snapped back sharply and managed to close mixed on the session.

Net on the day the Dow was down 13 points, but about 90 points off the low. The S&P 500 was down 2.37 today, closing about 10 points off its low. The Nasdaq 100 closed 14 points off the low, up 2.43 on the day. The Philadelphia Semiconductor Index (SOXX) snapped back and closed down 1 point on the session.

Technicals were 17 to 16 positive on advance-declines on New York, but 17 to 13 Ã,½ negative on Nasdaq. Up/down volume was 9 to 7 negative on New York and 11 to 9 negative on Nasdaq. Total volume on New York was more than 1.6 billion. Nasdaq traded nearly 2.1 billion today.

TheTechTrader.com board was extremely mixed, with point-plus gainers and losers.

On the plus side, Local.com (LOCM) on a very important announcement closed up nearly 3 points, or 79%, on more than 8 million shares. Metabolix (MBLX) gained 1 point.

Those were the only point-plus gainers.

Other gainers of note, low-priced CryoCor (CRYO) closed up 80 cents, or 17%, on 4.8 million. Portfolio position Spectrum Control (SPEC) advanced another 65 cents. At one point was up to 17 Ã,¼, a new multi-year high.

Taser (TASR) jumped sharply at the opening on contract announcements ,then backed off on profit taking,but still managed to finish up 56 cents, closing at 13.96 on 5 Ã,½ million. Immersion Corp. (IMMR), one of our Charts of the Week, closed just under 15, up 51 cents. Global Solutions (GSOL) was another 69 cent gainer today. CV Therapeutics (CVTX) advanced 65 cents on 2.2 million.

Chart of the Week Blue Phoenix Solutions (BPHX) was up 41 cents, and Euroseas (ESEA) gained 48 cents.

On the downside, loss leader was Industrial Services of America (IDSA), which violated our stop, was taken out at 14.80, closing at 13.95, down 1.44.

Boxer Short Spartan Motors (SPAR) split 3 for 2 today but dropped 1.57 split-adjusted, and Force Protection (FRPT) fell 1.05 today.

Other losses of note, Hoku Scientific (HOKU) gave back another another 50 cents, Halozyme Therapeutics (HALO) 37 cents, JA Solar (JASO) 68 cents and FuelTek (FTEK) 39 cents.

Stepping back and reviewing the hourly chart patterns, the indices suffered a steady sell-off after the market opened strongly and ran earlier in the session, but then snapped back late in the session to take back a chunk of its losses and closed mixed on the session.

Today’s high on the Nasdaq 100 was just under key overhead resistance near the multi-year highs at around 1947, and that remains formidable resistance. The S&P 500 level to contend with earlier next week will be the 1517-18 zone. Beyond that multiple highs at the 1535-40 zone will also have to be dealt with.

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.