Monday, September 23, 2013

New Lows And Gap Fills

Indices made new lows for the second day in a row. The Dow and the S&P500 filled last week gaps and bounced little. Tech and small caps are performing much stronger. They are barely pulling back, compared with the other two mentioned indices. I wouldn't be surprised if the market bounced tomorrow, good for another turnaround Tuesday.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is still at 1.35, good consolidation so far.
A third day in a row loss for oil, down over 1% today.  That's almost 5% since the high last Thursday!
Metals went sideways during the day, until the last hour. Then they went down in the last hour of the session, with the biggest loser being silver, -1%.

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