Friday, July 5, 2013

New Highs On Holiday Trading

Difficult to get a clear picture of the action today. The NFP-numbers first send everything up, then down sharp. But indices bounced on the levels of Wednesday's closing prices and managed to close at the highs of the session (however, still well under pre-market highs).

With yesterday being a holiday, today's action is probably less import than how the market will act on Monday (many big players still on holiday). Let's see if we can get follow-through next week, or a reversal.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro had a rough time, now trading just above 1.28!
Oil had another rip higher and is sitting at $103. It seems unstoppable, broke resistance this week and just kept going.
Metals had a very bad day, with copper losing 2.8%, gold down 2.2% and silver dropping 4.2%!

Have a great weekend!

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