Friday, August 2, 2013

Slow Summer Trading

Not much happening today for indices, despite the fact that the jobs report was a (small) miss. Numbers came in under expectations. A rather boring trading day was the result. All in all, another week with barely new highs, looks more like sideways trading. Only tech outperformed this week and went straight up for 6 sessions in a row.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went back up to attack 1.33 again. Oil on the other hand pulled back after new (pre-market) highs near 109, retreating under 107, but still up 3.5%-4% in the last 3 days. Metals had a wild day, especially gold and silver. After big losses in pre-market trading, they shot higher and went green. Then they pulled back later in the day, but silver still closed 0.8% higher. Gold and copper ended almost breakeven.

Have a great weekend!

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