Monday, September 10, 2012

Rangebound, Except For Tech

Most major indices were barely moving, except for Nasdaq which lost +1.2% (mainly thanks to AAPL, down over 2.5%). Today was just like Friday, more consolidation, with a minor pullback towards the close of the session.

Not much more to say, we'll have to wait for a bigger pullback or more sideways consolidation. I don't expect the indices to break higher tomorrow, but never say never!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Gold and silver pulled back after Friday's big gains. Copper on the other hand had a follow-through day.
The euro and oil didn't move much, oil was practically breakeven and the euro pulled back slightly.

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