Friday, November 1, 2013

Not Much Action, Good Close

Indices didn't move much, compared with yesterday. Only small caps had another bad day, lagging some more. But the other major indices almost managed to stay inside yesterday's range and they closed well, near the high of day.

Anything is possible on Monday; back towards/over recent highs or a drop. But the market hasn't pulled back since the last rally (except for small caps), so caution is needed!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro pulled back more, now trading at 1.35. While it took 7 or 8 sessions to go from 1.35 to 1.38, it took only 4 sessions this week, to reverse that action...
Oil fell big today, losing almost 2% intraday and now trading under $95.
Metals weren't hit hard in comparison to the euro and oil. Copper and silver were breakeven, gold lost 0.6%.

Have a great weekend!

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