Friday, March 1, 2013

Big Bounce

The market went deep in the red in pre-market hours, but soon after the opening of the session, indices bounced hard. And they kept going up the whole morning. A nice base formed in the afternoon, looks like we might get higher prices on Monday. It all depends on what news the weekend has to offer of course.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro and oil made fresh new lows. The euro didn't loose that much, but oil ended more than 1% lower.
Meanwhile, copper had a bad day, but there was a good bounce in gold and especially in silver.

Have a great weekend!

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