Thursday, March 22, 2012

Brief Summary For Thursday 03/22/12

The market gapped lower and sold off some more. A double bottom intraday and then a run back higher near the close.

Most major indices are printing doji's today. A sign of indecision, mostly seen at tops or bottoms. But since this is the first day we close somewhat lower, I don't expect a turn back higher. Not yet anyway.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Oil, silver and copper all took another beating today (all down around 2%).
Gold and the euro only suffered small losses.

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