The market had a very strong session to start the week, and it was strong from the get-go with pre-market futures telling the tale. There was also some good economic news that spurred trading, but the bulk of the gains were made in the first 1 Ã,½ hours or so. The market spent most of the rest of the session meandering sideways in flag consolidation-type patterns. At the very end of the day, in the last 5-10 minutes, in particular, they broke out to new session highs, closing near the highs for the day going away.

The Dow was up nearly 127, the S&P 500 more than 16, and the Nasdaq 100 more than 20. The Philadelphia Semiconductor Index (SOXX) was up 4.25.

The technicals were very strong by 26 to 7 on advance-declines on New York and about 2 to 1 on Nasdaq. Up/down volume was even stronger, nearly 6 to 1 positive on New York, on total volume of a little more than 1 1/3 billion. Nasdaq wasn’t quite as positive, ahead by nearly 3 to 1 on up/down volume on total volume of over 1.9 billion.

TheTechTrader.com trading board was mostly higher. JA Solar (JASO) soared 3.39 to a new all-time high. NVE Corp. (NVEC), one of our old favorites, had a stellar day, up 4.06, breaking out of its recent consolidation. Transcend Services (TRCR), one of our stocks to watch this week, was up 1.60. Chart of the Week Local.com (LOCM) was up 2.04, but that was up about 3 points off its session peak on late afternoon profit-taking. Force Protection (FRPT) was up 1.93, and CREE up 1.15.

Other gainers of note, Sigma Designs (SIGM) gained 81 cents, MEDTOX Scientific (MTOX) 86 cents, Immersion Corp. (IMMR), one of last week’s Charts of the Week, was up 73 cents. Old favorite Global Solutions (GSOL) exceeded 24 for the first time in six years, and closed at 23.32, up 64 cents.

DG FastChannel (DGIT), one of our current portfolio positions, advanced 47 cents, and Ceragon Networks (CRNT) 40 cents, along with Blue Phoenix, one of last week’s Chart of the Week, up 40 cents, and and Chindex (CHDX) 59 cents.

So, a very strong day on the Street to start the week ,especially for many of our recent picks.

There were some fractional losses, with Hoku Scientific (HOKU) giving back 63 cents and Industrial Services of America (IDSA) 64 cents. CRYO fell 88 cents and Applix 57 cents, the only stocks on our board down more than 50 cents.

Stepping back and reviewing the hourly chart patterns, today was a solid session with bullish consolidation patterns developing. The market started off with a bang today and closed positively with bullish-looking flag patterns, and perhaps higher prices to go before the week is out.

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.