Wednesday, May 15, 2013

The Lastest Bull Run, Half A Year Old

Most major indices made new highs. They had an impressive run so far, that started exactly half a year ago. The only laggard today was tech, which couldn't make new highs. And that was mainly thanks to Apple, because the company lost 3.4% today. Small caps didn't convince either, so Dow and S&P500 were the leaders today.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro keeps going lower, albeit slowly. It's now under 1.29 and eying 1.275, the low of the end of March, start of April.
Oil lost 2% intraday, only to bounce impressively and end breakeven! Almost the same happened 4 trading days ago. Oil did however break the low of that day.
Metals had another horrifying day. Copper lost 'only' 0.6%. But gold went 2.3% lower and silver dropped a huge 3.6%!!

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