Thursday, November 8, 2012

New Lows

After some indecision early on in the session, indices went down most of the day, with a small interruption in the afternoon. The market closed near the lows, and we don't even look really oversold yet. I expect more red tomorrow before we see a (short-term) bottom.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Oil and metals all bounced today. But not the euro, still trading near 1.275. Silver made the best gains, +1.75%.

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