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 had a down day to begin the week, but once again a snapback in the last hour and a half brought them substantially off the lows and pared back the losses.
We had another up-day, and the indices started with a big rally that broke key multiple session consolidation ranges and went to new 3-week & 2009 rally highs.
The markets had a choppy session, with a 5-wave decline in the morning that tested the intraday moving averages on the hourly charts but did so successfully, resulting in a strong snapback in the afternoon.
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