The market formed an intraday triangle in the first 3 hours of the session, which than broke to the downside. A quick trip to 1152 in ES-futures followed, that's where the bounce came. There was no real convinction or volume in the move, and a bearflag formed. It broke and soon we found ourselves at new lows for the day near the end of the session. Hereunder the 5m-chart for SPY:
Metals got hit again today, together with oil. Biggest loser once again was silver (over 6.5% down).
Below the daily charts for DIA and QQQ:
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