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 market had a strong session on Thursday, and it was strong from the get-go gapping up in the morning and running very hard early in the morning, reaching morning highs within an hour. The next 4-5 hours were spent meandering sideways in a coiling ,corrective looking pennant-type pattern.
The indices had a roller-caster ride but ended positive on the session, except for the Philadelphia Semiconductor Index (SOXX), which was down most of the day and was a continual drag on the Nasdaq 100.
he indices had a pullback/consolidation session and lost some ground today, but very similar action to yesterday’s session when the indices were up in the morning and meandered for most of the rest of the day with an afternoon pullback.
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