Friday, September 27, 2013

Dow And S&P Making New Lows, Tech And Small Caps Still Sideways

Yikes. Yesterday it seemed indices were finally ready to bounce. But today, the Dow and S&P500 broke support and opened a lot lower (the close wasn't much better...). On the upside, tech and small caps are still moving sideways, looking bullish.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is back above that 1.35-level and hitting last week high. Could break higher next week.
Oil is staying between 102 and 104. No edge right here, wait for a break of this area (up or down).
Metals were all up. Gains in copper and silver were small, but gold advanced almost one percent.

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