Wednesday, August 14, 2013

Waiting For The Next (Big) Move

What's there to say about indices...? Most are still going sideways and this for quite some time now. The Dow looks more and more bearish by the day, it seems to start rolling over. The S&P500 and small caps are both waiting for a break of the high or low from the last 3 to 4 weeks. The only daily chart still looking truly bullish, is tech. This still has a bullflag-look to me, a close above 77 for QQQ would signal another uptrend.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro barely moved, but oil is knocking at that 107-level again.
Metals were doing great today. Gold and copper made about 1% gains, silver ran more than 2% higher.

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