Friday, September 16, 2011

Quadruple witching day

Quadruple witching days often excel in choppiness and today was no different. Rather boring action and a tight trading range, compared to the volatility we got used to lately. On the weekly chart, we see big green candles on good volume, all we need now is confirmation in the next days or week(s). Although fundamentals aren't really pointing in a bullish direction imho.

Daily chart DIA:

Daily chart QQQ, approaching the upper trendline of the channel:

Gold and silver went up 1% and 1.5%, while oil was up slightly. The euro pulled back after a strong 2-day rally.
Lots of news in the coming days concerning the eurozone troubles. Handle with care...

And to go into the weekend on a lighter note: One man can save the day!
Have a great weekend!

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