The major indices made higher highs in the morning. But in the afternoon, they started making lower highs and lower lows. And then it happened. The market dropped over 0.5% in 15 minutes on remarks from Kerry regarding Syria. This could very well be the first sign of small panic-selling. More of this tomorrow and we'll soon be making lower lows.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
The euro is still trading right under that 1.34-level. Oil is also moving little, just over $106 now.
Metals: copper was down about 0.8%, but gold rose 0.5% and silver gained over 1%. Metals are still doing well, and with selling starting to creep into the indices, I don't see them weakening. Although silver is definitely overbought at these levels.
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