Friday, March 8, 2013

Continuation Of Your Old Bull Market

We had a bit of a hectic and volatile two weeks. But with new highs in all major indices, it seems the bulls are back, ready to fight the next wall of worry. The volumes are not always like you would like them to be, but in a bull market that doesn't always matter. As long as we see new highs, everything is just fine.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Finally a real big move, a good bounce in the euro and in oil. They both made nice gains, with the euro at 1.31 now and oil near 91.50.
Metals are hovering near breakeven for days now. Is this a bottom they are forming, or just a bearflag before the next drop lower?

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