Tech and small caps led, but the Dow and S&P500 did pretty good as well. For such decent gains in indices, many former leaders didn't make that much progress (CMG, BIDU, SBUX...). Although AAPL was up +4% after a 4/5-day pullback.
Today's action looks a lot like the one last Thursday. Of course that doesn't mean we'll pullback again like we did on Friday. We had a good close and with some follow-through tomorrow, maybe the 2012 rally revives.
5m-charts SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
There is barely any correlation between the euro and major indices lately. Today was proof of that; while indices rallied nicely, the euro mainly traded sideways.
Metals couldn't convince either. After gapping up, they sold-off hard but then bounced good. Gold near breakeven, small gains for copper and silver.
Oil had a good day, rallying to 105 where it hit resistance. Then a pullback.
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