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 ended mixed but generally higher, although it was a rather lackluster trading session and stocks didn’t appear to make much progress, particularly on Nasdaq, where a lower SOX index put pressure on the NDX all day.
The market had a definitive down-day to start the week, and it may have signaled the completion of a short-term topping pattern. We’ll know if the indices get a follow-through to the downside over the next couple days.
The indices had a volatile session in that they were up in the morning, down mid-day, rallied back to new highs, and then rolled over in the last couple hours and gave back a chunk of the gains, but still ended up ahead on the day.
The markets had a very similar day to Monday in that there was a sharp sell-off in the morning, a bounce mid-day morning and then a move to afternoon lows which pressed weekly support on the SPX.
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