Tuesday, September 24, 2013

Still No Bounce

After bouncing near yesterday's lows, indices started climbing and were on there way building nice hammers on the daily charts... But two hours before the end of the session, the market started pulling back little by little. In the last half hour though, the selling accelerated. Indices ended near the low of the day (except for small caps, which have been acting strong during this recent pullback).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is now right under that 1.35-level, so far this looks like a nice bullflag.
Oil experienced another drawdown during most of the day, but bounced nicely in the afternoon, closing only a little lower.
Metals were mixed with copper losing over 1%, gold breakeven and silver gaining 0.5%.

No comments:

Post a Comment