The indices suffered another negative session, and they were volatile during the day with several swings back and forth.

The markets had a pretty strange session because the blue chips indices had a difficult session and Nasdaq was down as well, but some of our favorite groups had an outstanding day, although they gave back some of their gains in the last hour.

The day started out with a move down, snapped back sharply and took out Friday's highs, and then settled into a nice bullish consolidation pattern that lasted till abut mid-day.

The market had three different movements today. One was sharply higher in the morning. Then there was a strong pullback and steady mid-day decline before they reversed in the afternoon, came on very strong at the close, closing at the highs for the day going away, at new rally highs on the S&P 500, in particular.

The indices had what Harry Boxer would call a disappointing session despite the fact that most of the them ended up on the day today.

The markets had definitive down day, a nasty start and a nasty finish. They opened lower, went down sharply in the morning and then bounced after a steep drop. At that point they went into a back and forth consolidation mode, sideways on the S&P 500 with a downward bias on the Nasdaq 100. Despite minor breakouts, the mid-afternoon rally failed to take out the morning highs, and they rolled over sharply and closed at the lows for the day going away.

The indices had a mixed session at the close, but had several intraday swings, starting out with a gap down that sure looked like the indices were in store for a very ugly day. But the early lows held above yesterday's low, and they bounced around in the morning, consolidated and then rallied mid-day to new session highs.

We had a definitive down day until the last hour or so when the indices snapped back from a short term oversold condition. After successfully retesting the mid-afternoon lows and failing to go any lower, they started snapping back, and in what looked like late short covering, getting them back to the best levels of the afternoon.

The market had one of its nastiest days in months, the biggest price drop since February.

The markets had a very strong session for the bulls, starting strong and staying that way, except for a mid-afternoon dip that pressed support and held it.