Thursday, October 31, 2013

A Bad Day For Metals

Major indices pulled back just a little more. Tech actually is going sideways the whole week long (one more day to go). More significant moves were in the euro (down over 1%) and metals (gold and silver lost big).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro lost over 1% and is now trading just under 1.36. Oil pulled back a bit more and is sitting near recent support. It's now trading at the lowest point since the beginning of June.
Metals had a very bad day. Copper lost almost 1%, gold was down nearly 1.5% and silver dropped a whopping 3.5%!

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