Monday, May 13, 2013

Setting Up Again?

The S&P500 tried to make new highs, but the breakout didn't come. Tech on the other hand did make (minor) new highs, but couldn't hold on to the gains. So no breakouts yet for the indices, but it seems like they are setting up again. Having said that, don't be surprised if we drop hard tomorrow...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro bounced on 1.295, first support.
Oil took another (albeit smaller) dive, this time without a bounce that held. Oil was down 1.1%.
Metals were mixed. Copper traded breakeven, but gold and silver both lost over 0.5%.

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