Monday, July 8, 2013

Small Caps Leading

Indices made new highs, gapping up at the start of the session. But no intraday follow-through. Tech even pulled back considerably and was lagging. Small caps on the other hand were leading today.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
A bounce near the 1.28-level, brings the euro back towards 1.29. Will it be a dead cat bounce?
Oil made more new highs in pre-market (104), but pulled back considerably to close with a small loss (near 103).
Metals went up, they all made just over 1% gains.

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