Monday, November 25, 2013

New Highs, But Indices Not Able To Hold Them

Major indices all made new highs, but couldn't them. They first gapped up a little bit, but then went lower in the last hour of the session to end near breakeven.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is holding above 1.35, despite a small pullback.
Oil went down hard, testing recent lows and bouncing well from there. The catalyst was news of a deal with Iran concerning their nuclear program and easing of sanctions.
Metals: gold and silver bounced between 0.4% and 0.8%. Copper ended 'only' 0.4% higher after spiking higher big in premarket.

No comments:

Post a Comment