Thursday, March 29, 2012

Dipbuyers Doing Their Job

Indices gapped down and moved south early on in the session. We hit the bottom near lunch and started going back up in the afternoon. Back near yesterday's closing prices (Dow even above) after a nice afternoon of dipbuyers stepping up. Nice to see so many hammers in indices, bulls need to push some more tomorrow.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
After yesterday's underperformance, metals did pretty good today. The euro traded along with indices.
Oil however had a bad day, losing 2% and is moving lower out of the tight pattern from the last couple of weeks.

Still holding that last part of SNTS, came closing to being stopped out, but a nice recovery!

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