Tuesday, June 4, 2013

Yesterday's Lows Holding

Yesterday's lows in indices held, more or less anyway. The Dow made slightly lower lows, but all major indices bounced well in the afternoon. Despite a big rip higher at the start of the last half hour of the session, most of those gains were given back in the last 15 minutes. Today small caps were lagging, which index will it be tomorrow?

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is consolidating nicely under the 1.31-level. Oil was very volatile today, but ended breakeven.
Metals were mixed once more, with copper doing the opposite of gold and silver. Copper rose 1.1%, gold and silver both dropped 1%.

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