While tech and small caps lost small (tech: thanks to AAPL, which was down 5%), the S&P500 made a slight progress and blue chips actually did very well (also because of the replacement of a few Dow-components).
Is this a shift to safety or sector rotation that we're seeing today? This could point to consolidation or a short-term top. Anyhow, the market made great gains this week and looks in need of some 'rest'. So far, the bulls are still well in control and indices are close to YTD-highs.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
The euro overcame the 1.33-level. Moving in high correlation with the major US-indices this week.
Oil couldn't bounce much. $108 is the level bulls couldn't overcome today => short-term resistance and level to watch tomorrow.
Metals did ok with copper and silver green and gold near breakeven.
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