Tuesday, September 18, 2012

Consolidating Last Week Gains

Not much happening. The range in SPY indicates consolidation (55 cents between high and low of the day, volume not high at all).
The major indices are trading mostly sideways/pulling back slightly. So far a bullish look.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Oil pulled back another 1.2%, but managed to stay above yesterdays lows.
The euro also pulled back a bit, down 0.5%, but no harm done. It needed this to work of these overbought conditions.
Metals were mixed, copper closed just under breakeven, but gold was up 0.8% and silver gained well over 2%.

No comments:

Post a Comment