Friday, July 27, 2012

More Upside

The indices kept going higher on yesterday's spirit, gaining another 1.5-2.5%, with tech and small caps now taking over the leading roll. There was a little bit of a sell-off in the last 10 minutes, but still nice gains for the major indices.

Indices had a good week with nice gains, but mainly thanks to Mr Draghi, yesterday morning.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Metals and oil were both underperforming, just like yesterday. The euro made some more nice gains intraday, but couldn't hold them into the close.

Have a great weekend!

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