Wednesday, July 3, 2013

Independence Day

Today was a shortened trading day due to the fact that tomorrow is the 4th of July, aka Independence Day. So in itself, the action is almost meaningless due to lack of participants. With the job numbers coming out on Friday, this gives the market some extra juice for a big gap on Friday morning. But it's anybody's guess to which side it will be, up or down?

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro moved back above 1.30, albeit only just. Oil had a third big move in a row, up over 1.5%.
Metals all moved up; copper and gold +0.9%, silver +2.1%.

Remember, no trading tomorrow (= no blogpost). Happy 4th of July!

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