Wednesday, February 6, 2013

Bears Trying, But Bulls Not Ready To Give In

This morning, bears gave it another try. Most major indices (except for tech) opened near yesterday's lows. But the bulls were not ready to close the books on this rally, and price rose again.

With the Dow and S&P500 ending near breakeven, tech down and small caps up, it's difficult to say which of these moves have greater meaning. We'll have to wait for fresh new highs or lows, outside the trading range of these last 5 days.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro lost almost 0.5% and is hoovering above 1.35. Oil went down over 1.5%, but bounced hard on the 95-level to get back to breakeven!
While gold and silver were barely trading in the green, copper lost 0.5%.

No comments:

Post a Comment