Wednesday, November 14, 2012

Oversold, And Getting More Oversold

Still no bottom here. Indices lost nearly 1.5% or more. We were already slightly oversold and getting even more so. But this could go on for a few more days. Tomorrow could bring an even bigger sell-off, you never know. These oversold conditions may last for a little while longer. Still no panic selling, bears are having the advantage.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Amid all the red numbers in indices, oil and the euro did pretty good (up 0.9% and 0.2%).
Copper was in the losers-camp, but gold traded breakeven and silver even gained some.

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