Tuesday, May 14, 2013

Don't Stop Me Now

New highs for all the major indices today! The Dow went up 0.8% and the S&P500 and small caps gained 1% or more. Tech did good in the morning, but pulled back in the afternoon were as the other indices consolidated sideways. That resulted in tech lagging today with 'only' a 0.5% profit for the day.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is trying to hold that 1.295-level, but looks like a short here.
Oil lost 1% and the Friday low of 93.37 is coming closer...
Metals had a bad day. Gold not so much, but silver (-1.1%) and especially copper (-2.1%) dropped hard.

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