Tuesday, January 8, 2013

Bulls Not Giving Up

Another day with lower lows and lower highs for major indices. Once more we see price drop significantly in the morning, but also with a nice bounce happening in the afternoon. Bulls are not giving up and if they keep defending like this, the market will only pullback a little bit before the next leg here.


Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
A good day for metals, well, for gold and silver anyway. Both were up 0.7%. Copper was trading at breakeven. Meanwhile, the euro is still trading near 1.31 and oil is practically trading sideways for the last 4-5 days.

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