Monday, February 25, 2013

Gap Up And Sell-Off!

The market send an important message to the bulls today; the rally seems to come to an end at this point. Time for a pullback! Indices losing 1.2% to 2.1% is the highest we've seen so far this year. Still nothing to panic about, but another day like this could change that.

Today's session started with a nice gap higher, but soon a sell-off followed and the selling didn't stop for the rest of the session. The selling peaked in the last 45 minutes, with huge volume coming in.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Losses of almost 1% for the euro and oil. That's still a better performance than indices.
But what about the metals! Copper traded sideways, but gold and silver went up just under 1%.

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