Harry Boxer has more than 30 years of Wall Street investment and technical analysis experience, and he spent eight years on Wall Street as chief technical analyst with three brokerage firms. Mr. Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders. Mr. Boxer is currently author of "The Technical Trader" and "The Technical Trading Diary" on the financial website The Technical Trader. He is a regular columnist on ADVFN, Stockhouse, and DecisionPoint, among many sites, and a regular guest on WinningOnWallStreet, Marketviews.tv, KFWB-Radio Los Angeles, and more. Mr. Boxer is a frequent guest columnist at CBS MarketWatch, and has been featured on CNBC, Futures Magazine and Technical Analysis of Stock & Commodities magazine. Mr. Boxer won both the 1995 and 1996 worldwide Internet stock market trading contests, "The Technical Analysis Challenge."
The markets ended narrowly mixed at the end of the day. But, the day started out with a move up off the opening, with a very tight narrow coiling pattern for the first couple hours.
The indices had a mixed session at the close with the S&P 500 tantalizing investors by moving above its all-time closing high, but not able to hold that. An afternoon sell-off brought it back down and it failed to close above that mark.
The stock market indices had a vacillating-type session with many moves back and forth. In the afternoon they managed to surge higher with the S&P 500 making new 7-year highs and the Dow making new all-time highs across 13,500. But without a confirmation from the NDX they eventually rolled over and gave back a chunk of the gains and closed negative on the session.
This resilient market continues to refuse to roll over, and today was another example. The day started out with a solid up gap, but it faded quickly and then after an hour-long consolidation rolled over sharply.
The stock market had quite a volatile day and ended near the lows for the session. But the day started out with a slight firming, a sharp pullback that held support, and a very strong half-hour rally that took the Nasdaq 100 to its highs for the day.
The market had a strong start for the week ,but fizzled out early and then sold off sharply in a three-wave decline until mid-afternoon, at which point the sharp sell-off resulted in a snapback rally that lasted into the close.
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