Wednesday, August 22, 2012

Fed Gives Market A Boost

Today it was waiting for 14PM when FOMC-minutes were released. Initially, they gave the market a general boost when words like 'easing' and 'QE' were used (not in those exact words though). But the euphoria disappeared and indices went back towards their original levels. Gold, silver, oil and the euro on the other hand, they all kept rising.

After a retest of the levels before the FOMC-minutes, indices gave it a second try and went up again. The market tried to finish green with tech leading but the Dow and small caps remained in the red.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro, oil and metals got a great boost after the FOMC-minutes.
Silver was outperforming with a +2% gain, gold came second with a 1% move higher.

No comments:

Post a Comment