Friday, November 2, 2012

A Sea Of Red

A better than expected job report made futures spike in pre-market, creating a gap up at the opening of the session. But that was exactly the high of day, it was all downhill from there on. Indices gave most or all of the previous gains back. Price tried to stabilize late in the morning, but in the afternoon, everything went down again.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Ouch! Oil down 2.5%, silver 4.1%, gold and copper lost 2% and the euro depreciated 0.9%. Big losses after yesterday's turn higher in indices. Energy and metals were hit the hardest.

Have a great weekend!

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