While the Dow made new highs for the second straight day, the S&P500 and small caps are still trading in a sideways pattern. The Dow is in huge divergence with tech. Nasdaq looks vulnerable with AAPL down again.
In a healthy bullmarket, you want to see tech lead, and not the big caps. So the 'rally' in the Dow these last 2 days, is rather suspicious and not to be trusted unless the other indices start confirming the move. And that better happen soon or it won't happen at all.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
The euro is finding support at 1.29, holding above for now.
Metals did well today, especially copper (+1.1%).
Oil at first was up almost 1%, but 'collapsed' in the afternoon and is trading just above the lows of the last 5-6 weeks.
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