Wednesday, December 5, 2012

Big Day For The Bulls

Today was a big tell for the bulls. After hitting new lows early on in the morning, indices managed to get back up and the Dow even managed to hit the highs made on Monday. Indices all had a big reversal (see 5m-chart SPY), but couldn't close strong. Tech was hit hard today, down over 1% with the Dow and S&P500 finishing green. Reason for that: tech giant AAPL lost over 6% today...

A positive day for the bulls, but a strong close would have been better. If there's more strength coming in tomorrow, we might be off for another rally.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro, gold and silver all went slightly in the red. Oil went down harder, losing 0.75%.
Copper however made 0.7% gains, outperforming gold and silver often the last several days.

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