Thursday, June 28, 2012


Well, Mr Market does! The supreme court decision on health care sparked quite a reaction. At first the market started to swing wildly up and down. But soon indices only went down, for a 1% loss since the previous close (and even bigger losses for tech and small caps).

The Monday-Tuesday lows held and in the last half hour, suddenly the market shot higher. Still not sure on what rumors this time... But the market ended strong and near it's highs, a rather bullish setup seems to be building on the daily charts.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Oil and metals got slaughtered once more. Everytime the market drops +1%, the biggest victims are in the camp of silver, gold and oil. Copper ended with slight losses.
The euro didn't do quite that bad, almost breakeven.

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