Monday, March 26, 2012

Gap Up And New Highs

Indices all gapped up but started to consolidate about an hour into the session. That took a few hours, but there was no deep pullback and price stayed above the opening range. In the afternoon a rally started that brought the major indices (except for the Dow) to new highs.

Very bullish action and this bull market seems far from over. But we're going up for 3 straight months now, this can't go one forever of course...

5m-chart SPY:

Daily charts, DIA, SPY, QQQ and IWM:

Euro, oil, metals
Metals had a good day, all up about 2%, doing better than indices.
The euro also performed well, breaking the 1.33-level. 1.35 next?
Oil is still trading within Friday's opening candle, but it's holding up well.

Holding on to my SNTS, sold 1/5 of the position per 5.74 (from entry 5.51)

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