Tuesday, April 10, 2012

More Selling

More selling indeed. After a small rip higher from yesterday's support, indices lost about 1.5% throughout the day. The selling climaxed near lunchtime and although prices seemed to be bottoming, the market still managed to make 2 lower lows before the intraday bottom was found. However, the bulls were not able to push prices much higher, they kept hovering near the lows until the close.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The second day in a row where copper is down a lot (almost 2%), but gold and silver were nicely in the green. Oil lost >1%, still not as bad as indices. And the euro is trading around the 1.31-level for a couple of days now.

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