Friday, November 22, 2013

New Highs For All But Tech

Major indices all closed the week on the highs, after trading lower earlier this week. Only tech couldn't make new highs, but the other indices did. Next week brings us Thanksgiving;  Thursday the market is closed and Friday is only half a trading day. Expect some 'holiday trading', probably a slow move higher.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro made a good move higher to 1.355, up 0.5%.
Oil was down, but that isn't surprising after yesterday's big move up. Still, a good bounce from the low of the day, makes for a bullish argument. Next week, I'm seeing oil finally make it back over $95.5.
Metals: copper was up 0.9%, but gold was breakeven and silver lost over 0.5%.

Have a great weekend!

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