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 markets had a somewhat volatile session, up sharply in the morning, reached new highs for the year on the S&P 500 but were unable to confirm on the Nasdaq 100.
The indices followed through on yesterday’s late comeback rally and gapped up strongly early on, backed off and retested the gap successfully, and then came on and rallied strongly into the mid-afternoon before a last 90-minute rollover brought them off the highs.
The indices on Wednesday extended the previous session’s late rally early on with a strong thrust at the get-go in a 5-wave advance that reached up near the 2009 highs on the S&P 500 and quite a few points short on the Nasdaq 100.
The indices managed to come back again Wednesday afternoon to close just beneath the flatline and positive on the OEX. But it was a generally narrowly mixed picture at the close.
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