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."
It was another up-day as the indices extended the rally to three days in a row. The indices closed at the highs for the day going away, with a strong, last 90-minute burst.
The markets had some volatility today. They started with a weak opening, but then had a very strong morning rally as the new Fed chairman Bernanke was speaking.
The indices had a very strong snapback rally off the recent pullback lows, and the day was particularly significant for the blue chips, which had an extremely strong session.
The markets had a strong comeback in the afternoon, recovering from early losses and closing not far off the highs for the day, a terrific recovery for a Friday.
The markets had another follow-up down day, and we've been down for 4-5 days in a row now, and starting to get oversold enough to where I think we can get a decent snapback rally as early as tomorrow.
The markets opened lower and went down sharply in the morning, and then spent much of the late morning and afternoon vacillating in a back-and-forth pattern.
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