Friday, September 13, 2013

Wazzup Next?

Not the best of action when you see large caps make new highs while other major indices are not. Small caps made 'bigger' gains, although not by much. Tech was only breakeven and actually lagging today. But daily charts are looking very bullish for most indices. I see mainly bullflags, only the Dow doesn't want to consolidate much, so it seems. Nobody knows what will happen next, but so far everything is still looking bullish.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is still consolidating near 1.33. Nice base so far.
Oil pulled back in pre-market, but staged a rally in the afternoon to close almost breakeven.
Metals also dropped quite a lot overnight, but made up for the losses in the afternoon. Silver even managed to close with more than 1.7% profits.

Have a great weekend!

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