Friday, February 22, 2013

Nice Bounce!

No blog yesterday and it's likely this will continue every other Thursday... (a guy has to work on his social life as well. After all, it's 10 PM here in Belgium when the stock market closes)

The market bounced nicely today. The Dow is close to the precious highs again, but the other major indices are lagging big caps. Worth noticing, the volume on this bounce is not that great, so confirmation required on Monday. That could be a huge tell for next week.

5m-chart SPY:

Daily charts DIA, SPY, QQQ, IWM:

Euro, oil, metals
Good bounces here and there, but not for the euro! Going sideways just under 1.32.
Oil did good, up 0.6% and easily outperforming metals. Copper was slightly red while gold and silver hardly moved up.

Have a great weekend!

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