Wednesday, December 26, 2012

Thin Trading

First of all, a merry Christmas to everyone (better late than never...). I wasn't able to do a blog post the last few days due to family circumstances and illness.

Monday wasn't meaningful at all, very thin holiday trading with indices barely moving. Today wasn't much different, volume-wise that is. Indices did however make new lows, but bounced well off them. The move didn't carry on into the close however, which was on the weak side. Especially small caps closed very weak, near the low of the day.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Metals traded green despite the indices going lower. Especially copper did good, +1.4%.
And what about oil, gaining, +2.8%!! It went over 91 and is aiming for higher prices.
The euro is maintaining position near the 1.32-level.

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