We had a very nice follow-up session to yesterday's rally, and the indices closed near the highs for the day and the highs for the week, with the S&P and Dow right near their 2005 highs. The Nasdaq, as has been the case lately, trailed in the last few days, but still had an up-day today.

Net on the day, the Dow was up 93, the S&P 500 up 11, the Nasdaq 100 was up just 9, and the Composite 13.70. The SOX was up more than 2 percent or 9 1/2 points today.

The technicals were very good, particularly on New York where advance-declines were 2473 to 791. Up/down volume was about 4 to 1 positive but volume was light today, with about 1.3 billion traded. On Nasdaq it was about 1.55 billion, a little lighter than recently, with up/down volume about 5 to 4 positive and advance-declines 2 to 1 positive.

TheTechTrader.com board was very active today. Some outstanding issues were BOOM, which exploded today for 4.32 on 4.6 million, very heavy volume for that stock and a key breakout to a new high. Synaptics, on positive news from Apple was up 3.32 on 17 1/2 million shares. CRYP went to a new multi-year high, up 1.83, closing over 31.

Other stocks of note, DCAI was up 1.10, MFLX up 96 cents, ENER 52 cents and ATHR up 91 cents.

On the downside, WPTE gave back 50 cents and IMAX 30 cents, but very few stocks were down today on my board.

Stepping back and reviewing the overall patterns, the key to today was that we blasted through 1200 on the S&P and 1520 NDX, key short-term resistance levels, and closed right at the 2005 highs on the Dow and S&P.

So, Monday will be a key day. If we follow through here, we may be on our way for a substantial move, but I would not be surprised to see a pullback and retest from these levels.

Good trading!

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.