On the intraday charts (I usely watch 30m & 120m) we're seeing higher highs and higher lows. So far, bullish action. And while we see constructive consolidating action on most indices, Nasdaq already broke higher yesterday. Exactly what one hopes to see, tech leading.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
The euro took another hit today and stopped falling on 1.27.
Metals were all over the places, copper up minimal, gold slightly lower, silver down about 2%.
Oil fell back to 101 and then bounced.
Some more articles, going into the weekend:
Sector Rotation is Key
Place your bets
Equities Continue to Ignore the Euro
Correlation Nation
Payrolls surprise to the upside
Themis Trading 2012 Market Structure Predictions!
The Resurgence of Dividends
Scary Jobchart
Trading Oil on Iran
Have a great weekend!
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