Day Trading with Hary Boxer

The indices had a difficult morning, but a snapback rally in the afternoon brought them way back and actually put the Dow back in the plus column. But the indices ended mixed on the day.

The day started out with a slight bump to the upside, and immediately sold off sharply. The market then went into a slow steady decline that lasted till around mid-day. Right about when lunch hour was ending, the market firmed up and started to accelerate, with the NDX snapping back from 1362 to 1387, a 25-point run, before a late pullback brought it back down 10 points. The SPX jumped from 896 to 914, but pulled back at the close.

Net on the day the Dow was up 50.34 to 8469.11, more than 100 points off its low. The S&P 500 was slightly lower, down 0.89 at 908.35, 12 points off its low, and the Nasdaq 100 down was down 18.39 to 1377.40, 15 points off its low but a similar amount off its high, so closing mid-range. The Philadelphia Semiconductor Index (SOXX) fell 6.33 today, about 2 1/2 percent.

The technicals were negative across the board on both indices. Advance-declines were 3 to 2 negative on New York and 2 to 1 negative on Nasdaq. Up/down volume was 2 1/2 to 1 negative on New York on total volume of 1.6 billion. Nasdaq traded 2.5 billion and had a 3 to 1 negative volume ratio.

TheTechTrader.com board ended narrowly mixed. Particularly strong today were the ag/chem stocks. Potash (POT) was up 5.91 to 100.87, Mosaic (MOS) up 3.10 to 47.67, and China Green Agriculture (CGA), last nightFor more of Harry Boxer, sign up for a FREE 15-Day Trial to his Real-Time Technical Trading Diary. Or sign up for a Free 30-Day Trial to his Top Charts of the Week service.