Wednesday, November 13, 2013

Brand New Highs

While most major indices made new highs, small caps are lagging somewhat at this point. I don't see new highs for them tomorrow, but the others could see follow-through and more record highs.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went under 1.34, only to bounce back and close above 1.345. I think it can even go above 1.35, but except resistance near that level.
Oil bounced good to 94.5, but then gave back a large portion of the gains, pulling back under 94.
Metals were mixed. Copper was down over 2%, gold was a small winner and silver lost 1%.

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