Thursday, November 1, 2012

Finally A Bounce Higher

A good day for the indices. We finally saw the bounce everybody was waiting for since the last couple of trading days. And it was a good bounce. Indices all closed near the high of day and were up between 1% (Dow, S&P, Russell) and 1.5% (Nasdaq).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The metals were a mixed bag with silver breakeven, gold down and copper up almost 1%.
The euro is still hovering near 1.295 and oil went up trying to get back over 87.

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