Friday, June 7, 2013

Nice Follow-Through

Thanks to a better than expected NFP-report, indices went up great in pre-market and so we got a big gap higher at the open. A small pullback was followed with another rally to new highs. The rest of the day was mainly consolidation with a fake move lower during the afternoon (taking out the weak hands as they say).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro consolidated above 1.32 and is looking strong here. Oil had another good day, gaining 1.5% which makes the total win for the week about 4%, very strong.
Metals all lost, probably because the money went from there into equities. Copper was down 1.6%, gold 2.4% and silver even 4.9%!

Have a great weekend!

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