Tuesday, July 30, 2013

Tech Trying

The Dow and S&P500 are still in that same range for days now. But small caps are looking weaker by the day. And tech actually made new highs today (and managed to hold on to them). Intraday, the indices looked weak right after lunch, but an afternoon rally got them back on their feet.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro still can't break through 1.33, but keeps sitting right below that level.
Oil finally broke down through support at 104, and is now trading at 103.
Metals didn't do well. Gold and silver dropped 0.3% to 0.6%. But copper lost over 2%!

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