Thursday, July 26, 2012

Draghi To The Rescue?

Futures spiked in pre-market when Draghi, President of the ECB, pledged to do whatever necessary to save the euro. A 1.5 percent gain was the result for the major indices. Only small caps are an exception, still trailing the other indices.

The indices are trading back inside their flag, except for small caps. They are trailing big... Tech (Nasdaq) also looks rather weak to me.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Nice gains for metals and oil, but indices and the euro performed even better!

No comments:

Post a Comment