Wednesday, June 27, 2012

Low Volume Gains

Yesterday's highs held as support early in the session. Indices went higher througout the morning, albeit not that spectacular. In the afternoon, the first cracks started to show. With most indices starting to give back some of the gains, tech actually pulled back quite heavily. And it underperformed from there on. The other indices managed to close not too far beneath the highs of the day. But the volume doesn't look very promising...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro, gold and silver didn't get much love today. Copper did better (on average up the same % as most indices) and oil had the best day in a while, up 1.35%.

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