Good NFP-numbers And A Rally

Everybody was waiting for the NFP-report and the numbers were good. On that news, the market first traded lower. But the recovery came soon and the market rallied most of the day, making up a lot of the losses from yesterday.

Basically, most major indices are going sideways for almost 2 weeks. Only small caps pulled back and then bounced some. Key here is to wait what comes first. New highs or new lows. But as soon as one of those happen, we have our price direction for the next weeks (imho).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro took another hit and is now trading near 1.335. That drop happened right at the announcement of the NFP-numbers.
Oil is actually going sideways for a whole week. It better bounces soon or this might become a bearflag.
Metals: copper made small gains, while precious metals had another bad day. Gold was down 1.4%, silver lost 0.6%.


Have a great weekend!