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 indices managed to surge at the end of the day and closed at the highs for the day going away with some gains on the session after some early losses, as this resilient market once again held price and moving average support before moving back up in a nice 5-wave advance from late morning until the end of the day.
The markets were up again in a very sharp rally to start the week. The day started out with a gap up and a very strong rally that took them to new 2009 highs.
The indices finally backed off as profit taking finally set in, but they started with a bang to the upside early on and hit nominal new 2009 highs before they began to back off in the morning.
The indices had a huge rally today, gapping up sharply at the opening, running hard in the morning, and then working their way steadily higher in a rising channel all session.
It was a very strong rally from the get-go today. With positive economic news, the market gapped up and ran hard in the morning, and settled into a multi-hour consolidation that lasted for the rest of the session on the Nasdaq 100.
The indices ended mixed at the end – but it was a pretty interesting day. There was a lot of back and forth vacillation and volatility in the morning, but they failed to break them down below 1660 NDX and 1035 SPX.
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