Thursday, January 17, 2013

And There It Is!

There's the breakout! A nice move from indices after some days of consolidation. While the Dow and S&P500 are near September 2012 highs, Nasdaq is lagging big time and the Russell is way ahead of everything else. So small caps are still hot and leading this market!

The only negative about today's session was the somewhat weak close. But still no harm done, indices made promising moves up.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro and oil were lagging yesterday, but made good moves today! The euro was up 90 pips and is trading near last weeks highs. Oil won over 1%.
Metals also performed well. Copper gained 1.5%, gold 0.4% and silver 0.8%.

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