Wednesday, November 21, 2012

Boring Day

Not much going on in indices today. Slightly higher highs, but the levels achieved in pre-market remained resistance. Is this the calm before the storm? It would be nice to see the S&P500 attack the 1400-level by the end of the week.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is still trading near 1.275-1.28, basically flat.
Metals were a mixed bag: copper down 0.3%, gold breakeven and silver up 0.6%.
Oil was up +1% in pre-market, but lost all gains on news that there would be a truce in the Gaza Strip. However, 3 hours later oil traded back over 1% in the green.

Remember: tomorrow the US markets are closed for Thanksgiving Day. I'll be back on Friday.
Happy Thanksgiving!

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