Indices started the session with a gap up and a nice rally following that gap. After a two hour consolidation, the market rallied again to close strong. Indices were up 1.2-1.5%.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
A strong euro today, breaking well above the 1.29-level and already aiming for 1.30 it seems. I expect 1.30-1.315 to hold for a while, acting as resistance.
Metals did good, with silver leading (+2.2%), followed by gold (+1.3%) and copper (+0.9%).
Oil had a nice morning run from the low 87's to 88.50, but then it dropped back around 88.
Have a great weekend!
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