Monday, July 22, 2013

Dull Summertrading

Another boring day. New highs for the S&P500 and small caps, the Dow tries to attack last week's highs and Nasdaq is going into Friday's gap lower. Gains were very small and on low volume. But hey, that's summertrading. This could go one for quite some time.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro keeps knocking on that 1.32-level. By the looks of it, we'll go over it soon.
A pullback in oil, finally! But 8 tradingdays ago, it also looked like we  were getting a pullback. The day after, oil started surging higher again.
Metals went berserk today. Copper was up 'only' 1.1%. But gold rose 3% and silver 4.8%!

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