Tuesday, November 19, 2013

No Need To Panic



Indices are dropping a little bit intraday, but already you feel some panic (just because people aren't used to intraday 'pullbacks' of more than 0.5% anymore). In the end, the Dow, the S&P500 and tech all closed lower about 0.1% to 0.3%. Small caps on the other hand are lagging once more, losing 0.6%.

5m-chart SPY:



Daily charts DIA, SPY, QQQ and IWM:



Euro, oil, metals
The euro is still above 1.35, having difficulty with 1.355.
Oil bounced some, but still close to recent lows.
Metals didn't move much. Copper slightly higher, gold breakeven, silver a little bit lower...

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