Thursday, November 21, 2013

Nice Reversal

Where yesterday still looked like it could be the beginning of a pullback, today was quite the opposite. A nice reversal took place with major indices making gains between 0.6% and 1.7%. The latter was the profit for small caps, they were definitely leading today!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
A small bounce for the euro, back over 1.345.
Oil made a big move higher, gaining 1.5% above $95. Today's high is resistance, a close above and $100 is possible.
Metals: copper gained 1%, but gold was actually down a little bit. Silver put in small gains, up about 0.4%.

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