Wednesday, October 2, 2013

Tech And Small Caps Keep Outperforming

While the Dow and S&P500 experienced lower lows than yesterday, tech and small caps didn't. The daily charts for the latter two keep a very bullish look and a break higher seems imminent. Indices bounced quite good from the lows, but tech was the only one attacking yesterday's highs.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro experienced a nice rip higher, bringing it almost to 1.36 at the close.
Oil had an even better move up, gaining almost 2% and trading near $104.
Metals also did well today. Copper gained over 1%, gold 2% and silver over 2.5%.

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