Monday, April 8, 2013

Average Profits

The market saw some follow-through, after last Friday's bounce from the morning low (big gap down). Are we setting up for new highs or will this market finally break and create a lower high before it starts to reverse?

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is still hovering near 1.30. A close above 1.305 (3/24 high) would be bullish.
Oil made good gains, up about 0.9% at 93.50.
While gold an silver were down, copper gained almost 1%.

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