Friday, March 22, 2013

And Back Down Again

The market doesn't really now if it should be going up or down. So a lot of wild moves higher and lower are the result, which will eventually break in one direction, up or down. Right now, we're in no man's land.

Volatility is up a bit because of this, but that doesn't prove a thing at this point. As long as we don't break Monday's lows, there's no need to panic just yet.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Oil is back at the lows of this week and the euro isn't doing much better. Metals are making good progress, especially gold and silver that is. Copper was going sideways today.

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