Bulls keep pushing

Another gap-up day for the market, and this time bulls pushed prices higher until midday. No sell off when the rally ended, just no more buyers it seems. We slowly dropped back, but stayed above the opening-levels. Small caps were outperforming, RUT +2% where most other indices were up less than 1%. Especially the Dow and S&P gave back a lot in the last hour, Nasdaq not so much and small caps even got back up near the highs.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Metals rallied together with stocks, gold and silver at or near new highs, copper is lagging the last couple of days. Oil had a second distribution day, no more news from Iran and prices drop a bit further.
The euro had another shot trying to take out 1.32 but didn't succeed. But still, positive action for this currency.


Trades
I tried a long trade in MCP, it was up a lot in premarket but fell back. At the open, it shot higher like a rocket and I got long (a bit late I guess) under $32. Stopped out just under $31 in less than 15 minutes... ouch! MCP is a very volatile stock and even my wide stop didn't help. It just wanted to go lower.


Articles for tonight:
Foot Back to The Floor
The Flight to Risk
Short Term Moving Averages
When Stocks Declare Their First Dividend - Look Out!
The Basic Maths Behind Stock Market Diamonds
Corp. Earnings Beat Rates Have Been On A 20-Year Upward Trend
Oil Reports May Offer Obama An Out On Iran