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 stock market indices suffered a setback today as early strong movement to key overhead resistance failed and they sold off for the rest of the session in stair-step fashion.
The stock market indices had a snapback rally. After reaching new pullback lows and testing key support, they bounced back in the morning, consolidated mid-day, and then extended the rally in the afternoon.
The stock market indices started the week out on a negative note, but the session began very differently. They gapped up at the opening, ran sharply, reached resistance, and then came down very hard off those resistance levels to test support.
The stock market indices staged a very strong rally in the morning when they gapped up strongly, formed bull flags, ran hard mid-morning, flagged again near midday, and then spiked up to the highs for the day.
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