Tuesday, September 13, 2011

Another volatile day

A difficult environment for the short-term (day)trader because of the (deeper) pullbacks. However, the bulls must be happy with this follow-thru day with indices closing near the highs. The best chart is probably Nasdaq, followed by the Russell2000-index. For now, the bearflag is still holding, so anything is still possible.

Almost everything moved in sync; equities, gold, silver, oil were all up. The dollar and treasuries went down.

Hereunder the 5m-chart for SPY; high volatility, especially towards the end of the session:

Daily chart for the DIA, volume is ok, but today's candle isn't really convincing. Still, as said, anything is possible.

No new or closed trades, BAL and SGG still in portfolio, both are consolidating.

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