Tuesday, March 26, 2013

Close To New Highs

Indices had an interesting day with a gap up and a afternoon move towards yesterday's highs. the Dow and S&P500 almost made it, but tech couldn't overcome the morning highs. Small caps performed even worse (well, still moving higher, but lagging today). They pulled back deeper than other indices and couldn't get back up to revisit the high of the day like the other indices did.

So far a bullish setup right under recent highs for most indices. It's make or break time and it could happen any day now. But if we don't see new highs soon, watch out for the bears. Their patience is running out.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro was barely moving today, still hovering near 1.285.
Great gains and new highs for oil, up 1.5%.
While copper had small gains, gold and silver both lost small. No big or important moves in metals today.

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