Thursday, December 6, 2012

Getting Ready For The Next Move

Not much action worth mentioning in the indices today. Except for the fact that they ended near the high of day and for the Dow and S&P500 near the high of the week. A bullish pattern is starting to evolve. One more good push higher by the bulls and we are in for another rally. At the moment, my money is on the bulls. But be careful, tomorrow the NFP-report is due, one hour before the opening of the session. Often a very volatile event...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro, copper and oil got hit hard today, especially oil (down 1.7%).
Gold and silver went a little higher.

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