Friday, August 23, 2013

Slow Day

Indices didn't move much during the day, only the opening of the session saw some minor volatility. And so did the close, with all indices finishing near the high of day. In between there was only a tight range consolidation going on.

So far, bullish action. But no real follow-through after yesterday's move. Only tech convinced somewhat with a 0.7% gain. Other major indices lagged with gains between 0.3% and 0.4%.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is already knocking at 1.34, but remains below for now. Oil had a great follow-through day, up 1.3%! Metals were ripping today. Copper was up 'only' 0.6%, but gold gained 1.5% and silver almost made the +4%-mark.

Have a great weekend!

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