Thursday, September 5, 2013

Tight Range

Not much happening today. I guess everybody is waiting for NFP-numbers tomorrow (and a clear decision about Syria over the weekend/next week). Very tight ranges on indices, where bulls wanted some follow-through from yesterday's action. Let's see what tomorrow brings, but the action in oil looks like something is brewing.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went down to new lows and is now trading just above 1.31.
Oil had a great day, gaining more than 1% and sitting at $108.50. By the way, nice intraday base right under that level.
Metals were mixed with copper up little and silver and gold losing 'big' (1.4%-1.9%).

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