Monday, June 10, 2013

Consolidating The Thursday-Friday Rally

The major indices managed to make higher highs today. But most of the action points to consolidation, with most indices ending close to breakeven (or minor losses). Only small caps outperformed significantly with 0.6% gains.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro moved back up towards 1.325, with 1.33 in the crosshairs. Looking bullish.
Oil consolidated after the nice performance of the last two trading days.
Copper dropped almost 1%. But gold was up 0.5% and silver gained 1.4%.

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