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 another up-session, but the indices hit their session highs mid-way through the afternoon and had a decent pullback towards the end of the day, closing at the afternoon lows but still up on the session.
The market had a very strong close and a very strong afternoon, bringing the indices to all-time, multi-year, and 2006 highs respectively on the Dow, S&P and NDX.
The indices had what I would call a consolidation day. They started off with a down move that hit new pullback lows, but they rallied rather sharply in the morning only to fail near resistance, pullback and retest.
The indices gapped up in the morning, came down sharply, held support, rallied just as sharply and failed at resistance, and then came down hard mid-day.
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