The markets edged higher on Thursday, tagging more new multi-year highs, but it was more of a consolidation-type session with an upward bias.

It was another strong session, as the indices had a very good follow-up to yesterday afternoon’s rally.

The indices had an up-session, and they came back from early losses with a strong afternoon rally. But the underlying technicals were not very encouraging.

The indices had a definitive down day to start the week and a nasty one at that, especially in the last couple hours when the sell-off accelerated.

The indices had a mixed session today, but they did make new multi-year highs before it was over, although they backed off when they got near major round numbers.

It was a huge session for the indices, starting out with a bang on a gap up. They did pullback pretty quickly in the morning, but held support immediately, and the rest of the day was up and away, as the indices soared to new multi-year and all-time highs in some cases.

Today was a mixed session with the indices up at the opening, back down right after that, rather sharply as well, and then a sharp snapback rally that took the NDX to new highs, but with the S&P failing to do so. They pulled back mid-day, and then tried to rally again in early afternoon, with the indices reaching new snapback highs, and the S&P 500 and NDX reaching session highs.

The indices ended mixed on the day. They were up in the morning, down mid-day, and then tried to move back in the afternoon, but rolled over towards the end of the day.

The indices had three very distinct parts of the session today. The first part was the big gap opening to the downside. But within a few minutes the indices stabilized and started an upward move that lasted half the session, taking the NDX just slightly above yesterday’s highs, although that was not confirmed by the S&P.

It was another up-session for most of the indices except for the NDX despite the fact that the Philadelphia Semiconductor Index (SOXX) was up more than 12 today.