Monday, May 20, 2013

Selling Pressure In The Afternoon

The day started with new highs in the morning, but in the afternoon we saw a lot of selling pressure. The lows of the day were tested and the major indices are printing doji's or inverse hammers, signs of a possible top.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
A small bounce for the euro today, back near 1.29 at the moment.
Oil made further progress and is testing the highs of this month near $97.
Metals had a great day. Especially gold and silver were moving, gold up 3% and silver even 3.7%!

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