Another big gap, this time to the downside. And indices kept selling off during the morning. The big loser was the Russell2000, small caps were down about 2%. There was a bounce in the afternoon, which didn't last long.
The market looked to put in an intraday double bottom in the last hour, but the push higher wasn't impressive at all. A close just above the lows is not very promising.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
All were gapping down together with indices. Gold and silver went on to go back in the green before lunch, while copper traded sideways, down -2.4%.
The euro and oil kept going down, the euro losing 1% and oil even 3.5% (!).
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