Monday, January 7, 2013

Start Of A Pullback?

The first signs of weakness were showing since the rally started five trading days ago. Major indices started to trade under Friday's lows, but a nice bounce followed in the afternoon. The next couple of days will show if we start pulling back or are just consolidating at current levels.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Not much going on here, the euro and oil were just above breakeven, metals just below (but gold down over 0.5%).

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