Tuesday, February 26, 2013

A Small Bounce

Indices bounced somewhat after Monday's 'big' losses (well, the biggest we've seen this year, but not huge as in 'a crash is near'). Let's wait for tomorrow. But the European markets are doing pretty awful and my money is on lower prices right now. Yesterday was a warning and I can't imagine we'll see new highs in the next weeks.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
No bounce for the euro and more downside for oil. Not a pretty picture for these two while major indices bounced a little bit from yesterday's drop.
Better news for metals. They all performed well, copper up 0.8% and 1.2% gains for gold and silver.

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