Wednesday, October 10, 2012

More Downside

As the title says, we saw more red today. Although the Dow was down another 1% and other major indices also lost 0.4-0.6%, today didn't look that awful. Certainly not compared with yesterday. We're getting oversold and a short-term bounce might be in place. Also, longer-term trendlines in Dow and S&P500 could bring a support bounce tomorrow.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Metals stood firm amid the sea of red in the major indices. Silver even managed to make small gains.
Oil jumped to new highs early in the morning, but fell back to new lows for the day, down about 1%.
The euro is trying to get back over 1.29.

No comments:

Post a Comment