Monday, December 3, 2012

Fade The Gap

The gap up this morning immediately got faded and send indices lower for an hour and a half. After some consolidation, the market dropped some more. A small bounce got the indices back in no man's land, but price closed near the lows of the day. All in all, bearish candles on the daily chart. But no harm done just yet. Anything is possible from here on.

5m-chart SPY:

Daily charts DIA, SPY, QQQ, IWM:

Euro, oil, metals
The euro had a pretty good day, over 1.30 and gaining 0.5%.
Oil, copper and gold were all slightly green, but silver did better, +0.5%.

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