Thursday, August 9, 2012

More Boring Consolidation

Today's session started with a move higher just above yesterday's high. Then price reversed and dropped quickly right under the opening level, only to bounce back up again. Price continued to consolidate in the range of the drop for the rest of the day.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Like indices, metals and oil weren't going anywhere. All where up 0.2%-0.3%.
The euro on the other hand lost ground, down to 1.23 (-0.5%)

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