Thursday, October 25, 2012

Same Sh*t As Yesterday

If you look at the daily charts, today's action was rather similar to yesterday's. Opening with a gap up and losing it all again. Only the intraday action was slightly different. Bulls need to step up soon or the indices will go for another leg lower.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Gold and silver did pretty good today, both up nice. Oil also bounced a bit, but still not sure if this is a (short-term) bottom. Oil prints an inside day, tomorrow will be interesting to watch.
The euro and copper lost a bit of ground, but not much.

Everybody and his dog is watching Apple earnings after hours. This company basically will decide on it's own where the market opens tomorrow morning.

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