Tuesday, February 19, 2013

New Highs, Except For Big Caps

More new highs today, especially for the S&P500 and Russell2000. As usual, small caps are leading. Just like they did most of this rally. Big caps and tech are trailing a bit, but are right at resistance. They could brake higher any time soon.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro moved a bit higher, but still (just) under 1.34. Oil moved about 0.75% higher, a nice bounce on the low of the previous two trading days.
Metals had another bad day. Gold not so much, but silver was down >1% and copper even losing >2%.

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