No daily review yesterday due to circumstances, but we're back today!
The market gapped down today, making yesterday's candles look more and more like a short-term top. For the days/weeks coming, let's focus on that and see how this will play out.
The day basically came down upon a trendday down. Market ended near the lows and more downside is possible early next week.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
Oil gave back a big part of the Thursday gains in pre-market.
The euro made new lows early on in today's session, trading back under the 1.22-level. The Spanish and Italian yields aren't helping the euro. Both countries are still in trouble and it might take several months before a solution becomes clear...
Copper, just like oil, had a bad day, losing over 2.5%. Early losses for gold and silver were erased, both turned green before noon.
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